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May 10

Daily news rundown

  • SAP is acquiring Sybase for $5.25b, all cash – reportedly in an effort to compete with Oracle (which acquired Sun last year for $7.4b) – closing is scheduled for Q3 this year – SAP will also assume Sybase’s debt of about $550m
  • Transurban rejected a A$7.2b shareholder-led buyout offer – says offer too low – responding, two major Canadian shareholders who were bidders threaten to sell their 28% stake. Link
  • Baidu’s shares surge after 10:1 stock split – up almost 10% today
  • Now Morgan Stanley is being investigated – over some CDOs. Link
  • WSJ reports that VC industry looks like it’s picking up – M&A activity is healthy with 77 VC-backed companies being sold in Q1 ($3.9b vs Q1 ’09 $3.4b); 15 sold last week alone – 14 IPOs of VC-backed companies so far this year (compared with 8 for all of 2009 and 7 in 2008; Q1 ’10 raised $711m) – IPO pipeline "remains robust" – but, "Some venture capitalists caution the current spate of deals is confined to a relatively narrow set of high-growth or profitable technology and biotechnology start-ups." Link
  • Bank of England May 2010 inflation reportLink
  • Afriqiyah Airways plane crashes in Tripoli, killing 92 – mostly Dutch tourists – boy said to be sole survivor
  • FTC extends AdMob deal review by 2 weeks – due to iAd
  • China Mobile wants the iPad – and also the iPhone, but hasn’t got it yet (the iPhone has been selling really well in China). Link
  • Apple 4th gen iPhone allegedly turns up in Vietnam – teardown reveals an A4 Processor, 256MB RAM
  • More rumors that Verizon will get the iPhoneLink
  • HTC counterclaim accuses Apple of infringing 5 HTC patents
  • Gold hit another high, $1234.93/oz
  6:57pm  •  Business & Finance  •  Current Affairs  •   •  Tweet This  •  Comments (1)