Mergers & Acquisitions | featured news

General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.

General Motors Corp said it had reached a preliminary deal to sell its Hummer brand, part of its effort to shed half of its eight U.S. lines and leave bankruptcy court protection as a leaner company.

Approval of sale of assets to Fiat clears way for U.S. automaker to exit bankruptcy protection.

Robert Nardelli, Chrysler's departing chairman and chief executive, said he expects the sale of the bulk of Chrysler's assets to a group headed by Italy's Fiat Group SpA to close Friday, assuming the judge overseeing the automaker's bankruptcy protection case approves the deal.

General Motors and Canadian auto parts group Magna International have reached an agreement in principle that could rescue ailing German carmaker Opel, sources close to the negotiations said on Friday.

Time Warner unveiled plans Thursday to spin off AOL as an independent company, an end to the massive media media marriage formed in 2001.

Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.

Medtronic's profit dropped 69% on patent-litigation and acquisition-related charges as the medical-device maker saw sales of its implantable cartioverter defibrillators fall.

Macquarie Group, Australia’s biggest investment bank, is bidding for an AIG fund unit with about $100bn under management, reports Bloomberg. AIG expects to sell the unit for as much as $500m. Macquarie is among several firms pursuing AIG Investments, a New York-based fund manager put up for sale in January,...

PepsiAmericas rejected PepsiCo's $1.7 billion cash-and-stock offer for the nearly 60% of the company it doesn't already own. The move follows a similar rebuff by Pepsi Bottling Group.