First Data Corp., the payment processor that isn’t earning enough money to reduce its $23 billion debt load from a 2007 buyout, is raising optimism among bondholders that it will sell shares to cut leverage.
Dynegy Inc., the third-largest independent U.S. power producer, and wireless operator Sprint Nextel Corp. are likely to underperform the high-yield bond market in the coming months, according to Gimme Credit.
HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.
Demand for meat in emerging markets, which spurred the biggest proposed Chinese takeover of a U.S. company, is turning American producers such as Hillshire Brands Co. and Sanderson Farms Inc. into potential acquisition targets.