D.E Master Blenders 1753 NV, the coffee and tea company spun off by Sara Lee Corp., said it’s in talks to be acquired by a group led by Joh. A. Benckiser in a bid that values the company at 7.6 billion euros ($9.7 billion).
The main trade association for the securitization industry is in turmoil after most of the board resigned in a dispute with the group’s executive director over governance and bonuses, according to six people with knowledge of the matter.
Jeff Zucker, the former NBC Universal chief who was named to lead Time Warner Inc.’s CNN yesterday, said the network needs to broaden its news coverage and keep viewers longer to compete with Fox News and MSNBC.
Barry Sternlicht, who built his career buying distressed real estate in the early 1990s, is seeking to profit from the U.S. housing market revival by taking public a four-year-old homebuilder that has yet to make money.
Avon Products Inc.’s naming of Johnson & Johnson’s Sherilyn McCoy as chief executive officer may delay the company’s turnaround efforts and decrease the chances of a takeover by Coty Inc., analysts said.
Coty Inc. Chairman Bart Becht said two weeks ago it was time for Avon Products Inc. shareholders to persuade the board to accept his company’s $10 billion bid. Several investors have discussed the offer with the board, and their message is clear: Get more money or forget about it.