Friday Papers: Intel to purchase McAfee for $7.7bn - bid news and gossip

Financial Times

* Intel on Thursday unveiled a $7.7bn acquisition of McAfee; Intel is paying $48 a share in cash, a 60% premium on McAfee’s Wednesday closing price.

* First Niagara, a New York bank, on Thursday agreed to buy another north-east based lender, NewAlliance Bancshares, in the largest unassisted US bank deal since the financial crisis; the deal will create a bank with more than $29bn in assets and $18bn in deposits.

* Stanley Druckenmiller’s decision to wind down his Duquesne Fund Management hedge fund is unlikely to have a big impact on financial markets, sources said.

* Primary Health Properties, the healthcare property investor, has acquired more than £100m of assets as part of plans to become the dominant company in its specialist real estate sector.

* MasterCard on Thursday agreed to buy DataCash, a UK payment service provider, for £333m.

* Temasek, the Singapore state investment agency, has hired Gregory Curl, a former top executive at Bank of America, to oversee its US and financial services holdings.

* Hewlett-Packard’s strategy remains intact in spite of Mark Hurd’s resignation this month, the company’s acting chief said on Thursday.

* Korea National Oil Corp was on Thursday night on the brink of launching a £1.67bn hostile takeover bid for Dana Petroleum that could be announced as early as Friday.

* Indian oil and power group Essar seeks acquisitions in developed nations.

* Dell surprises market with better than expected quarterly earnings.

The Guardian