Shares in handheld computer maker Palm plunged Friday after the company reported another quarterly loss and gave disappointing guidance. Speculation mounted that the company could soon be an acquisition target.
In a deal that will help AIG raise funds to pay back part of its government bailout, US insurance giant MetLife will take over American Life Insurance Company (ALICO), an overseas unit of AIG, in a deal worth 15.5 billion dollars.
New York state officials Thursday filed a lawsuit against Bank of America alleging they "duped" shareholders and taxpayers in the takeover of Merrill Lynch. BOA, according to the suit, concealed losses in order to facilitate the merger.
After the withdrawal of Hershey, another possible buyer for British confectioner Cadbury has pulled out. Ferrero, the Italian chocolate maker, will not make a counter-bid to Kraft’s offer freeing for the US giant.