Royal Bank of Canada officials’ conflicts of interest tainted a $438 million buyout of Rural/Metro Corp. and the national ambulance service’s former investors deserved more for their shares, a judge ruled.
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.
Citigroup Inc. and Guy Hands’s Terra Firma Capital Partners Ltd. will litigate their dispute over the 2007 sale of EMI Group Ltd. in the U.K., both sides said after agreeing to drop a $2.2 billion case awaiting retrial in New York.
Galerie Thaddaeus Ropac sold $2.4 million of blue-chip art halfway through the exclusive opening of the Armory Show this week in New York, as the city’s biggest event of its kind got off to a busy start.
Daimler AG, the world’s third- biggest maker of luxury cars, will sell a 50 percent stake valued at 1.9 billion pounds ($3.2 billion) in an engine joint venture to partner Rolls-Royce Holdings Plc. to invest in its automotive and truck businesses.