Bid & AskBy
1. IBM's (IBM) board authorized an additional $10 billion for stock buybacks. Since taking over as chief executive officer in 2003, Sam Palmisano has spent more than $68 billion on share repurchases—a figure equal to about 38 percent of IBM's current market value.
2. Singapore Exchange offered $8.3 billion for ASX, the company that runs the Australian stock exchange. Some Singapore Exchange shareholders and Australian politicians object to the bid.
3. JPMorgan Chase (JPM) and five other banks loaned California $6.7billion to pay delinquent bills that piled up in the 100 days the state was without a budget.
4. La Poste, France's national mail service, will receive a $3.7 billion investment from the French government and the state-owned lender Caisse des Dépôts et Consignations.
5. Government-owned Coal India raised $3.4 billion in an initial public offering. The IPO surpassed the previous Indian record set by Reliance Power, which raised $2.5 billion in January 2008.
6. LVMH Moët Hennessy Louis Vuitton paid $2 billion for 17.1 percent of family-owned Hermès, maker of the Birkin bag, silk scarves, and other luxury items. Analysts speculate this is a first step toward an eventual acquisition of the company; LVMH says pas du tout.
7. Ventas (VTR) will be the largest owner of U.S. senior housing communities after it acquires nearly all the real estate assets of Atria Senior Living Group for $1.5 billion.
8. OMV, Central Europe's largest oil company, paid $1.4 billion to boost its stake in Turkey's top fuel retailer, Petrol Ofisi, to nearly 96 percent.
9. BP (BP) sold interests in four deepwater Gulf of Mexico oil and gas fields to Marubeni Oil & Gas for $650 million. CEO Robert Dudley plans to sell as much as $30 billion in assets to pay for the cost of the worst oil spill in history.
10. A Bulgari ring from the 1970s featuring a rare blue diamond fetched $15.7 million at a Christie's sale, the highest price paid at auction for a piece of jewelry this year.