Cerberus Capital Management LP’s $9 billion deal to merge Safeway Inc. with Albertsons is a bet that a larger supermarket chain can better fend off an attack on the grocery business by big-box stores and online retailers.
Royal Bank of Canada, the country’s second-largest lender by assets, beat analysts’ estimates after posting a 2.2 percent increase in profit that was helped by lower provisions and credit recoveries. The company raised its dividend 6 percent.
Charter Communications Inc. made its boldest move yet to buy Time Warner Cable Inc., nominating a full slate of board members as it seeks to usher the second- largest U.S. cable company to the bargaining table.
Ally Financial Inc., the auto lender bailed out by the U.S. government, may start a road show for an initial public offering as soon as this quarter as the U.S. Treasury looks to shed its ownership, according to its chief executive officer.
Ace Ltd. Chief Executive Officer Evan Greenberg, who typically shunned share repurchases as he focused on expansion and buyouts, said the authorization of additional buybacks won’t halt his commitment to growth.