Bloomberg Wm Morrison Supermarkets Plc rejected as undervalued an unsolicited proposal from US buyout firm Clayton Dubilier & Rice LLC that valued the UK grocery chain at about 5.5 billion pounds ($7.6 billion). Morrison received a proposed cash offer at 230 pence a share on June 14 and rejected it three days later after discussions with its adviser Rothschild & ...

Bloomberg Ares Management was sued by a specialist credit fund co-founded by a former Goldman Sachs Group Inc partner over the sale of collateral on a loan to a struggling Norwegian airline. Hudson Structured Capital Management Ltd claims that several Ares funds that held the notes directed that aircraft used as collateral be sold to an Ares affiliate, despite a ...

Bloomberg The coronavirus pandemic has created an overhang of pent-up travel demand and left unspent money burning holes in the pockets of the well-to-do. Put the two together and the result is a hunger for private jets. Buyers have scooped up so many of the good used planes out there that they’re now getting on waiting lists to purchase new ...

Bloomberg With European stocks only just off record-highs, investors have to look harder than ever to find pockets of value. Companies that can absorb an inflation spike are in hot demand, while many think so-called value stocks are still cheap relative to growth, even after a huge rally. Others see upside potential in laggard sectors like energy and health care, ...

Bloomberg The thought of central bank policy makers easing off their campaign to liquefy bond markets has hung like a sword over equity investors for years. At least at the earnings level, there may be less reason for anguish than is usually recognised. Research from UBS Group AG says that should the Federal Reserve turn off the spigot on its ...

Bloomberg China’s Silk Road Fund and Saudi Arabia’s Hassana Investment Co joined a group investing $12.4 billion in Saudi Aramco’s oil pipelines. The consortium, led by US firm EIG Global Energy Partners LLC, has now closed a deal to acquire a 49% equity stake in Aramco Oil Pipelines Co, a new subsidiary, according to an emailed statement. The group includes ...

Bloomberg Boeing Co’s biggest 737 Max model lifted off into brilliant blue skies for the first time, marking another milestone in the jet family’s comeback from tragedy and a lengthy grounding. The stretched narrowbody jet rumbled down a runway adjacent to the Renton, Washington, factory where it was built and took flight at 10:07 am local time. After performing aerial ...

Bloomberg Deutsche Lufthansa AG said it plans to repay billions of euros in aid from the German government before the country’s federal election on September 26. Europe’s biggest airline is working on measures to secure the refinancing “hopefully before the general election,” Chief Executive Officer Carsten Spohr said at Germany’s National Aviation Conference. The comments are a sign of increasing ...

Bloomberg Shares of Philippine Airlines’s parent company were suspended from trading after its auditor issued a disclaimer of opinion on its annual report. The Philippine stock exchange suspended trading of PAL Holdings Inc shares from 9:30 am, extending a halt imposed when the company submitted its annual report that showed it posting a record loss in 2020 due to the ...

Bloomberg The airport in Shenzhen, a Chinese city neighbouring Hong Kong, tightened controls on entry to its facilities after a restaurant employee was found to carry the delta coronavirus variant. All visitors to the terminals and ground traffic centre must provide a negative nucleic-acid test administered within the prior 48 hours, according to a statement posted on Shenzhen Airport Group’s ...