Good evening, this is Laura Speizman, Cyberspace Investment News , with the Friday May 22 report.
While the Dow Jones Industrial Average had four straight days of losses, the industrials still ended up slightly for the week despite economic concerns over a global recovery and curbed optimism about the health of US banks.
In this week marked primarily by equity and debt offerings, Hewlett Packard, Regions Financial, Verizon Wireless and ConocoPhillips stood out with debt offering of over $1 billion each.
In a market that hasn’t seen many initial public offerings, OpenTable, the online restaurant reservation system, priced its IPO at $60 million. AIG, the insurer, announced plans to list its Asian unit in a $4 billion IPO offering in order to repay government loans.
Merger activity was slow during the week. However, Centrica, the UK energy company, agreed to buy 20% of British Energy for 2.9 billion Euros, Fleet, the Dutch investment company, agreed to buy a 50% stake in LeasePlan, the vehicle management services provider, for 1.3 billion Euros and Tiscali UK agreed to acquire TalkTalk, the telecom provider, for 236 million British pounds.
This is your Friday report, good night.
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