DEALBOOK HIGHLIGHTS
British Government Begins Sale of Remaining Royal Mail Stake The government will sell 150 million shares, or about a 15 percent stake, to institutional investors in a secondary offering.
Johnson Controls to Weigh a Breakup The industrial parts maker is considering spinning off its auto parts arm to focus on other divisions like its building air-conditioning operations.
Panasonic Healthcare to Buy Bayer's Diabetes Business for $1.15 Billion Bayer Diabetes Care has marketed and sold products manufactured by Panasonic Healthcare for decades.
Tokio Marine of Japan Agrees to Acquire HCC Insurance for $7.5 Billion The deal would expand Tokio Marine's business in the United States and broaden its specialty product lines.
Breakingviews: Tokio Marine Learns Lessons in Value Destruction The Japanese insurer's past extravagant forays into the United States market should give it scope to cut costs - and make a deal stack up for a change.
BUZZ TRACKER
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Spotify Sells 1.4% Stake for $115 Million TellaSonera, a Swedish telecom company, announced that it had acquired the stake in the streaming music service.
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LOOKING AHEAD
Facebook's Annual Meeting on Thursday Although Facebook stockholders will be able to question management at the company's annual meeting on Thursday, the votes they cast will be essentially meaningless. That is because the company's co-founder and chief executive, Mark Zuckerberg, controls 54 percent of the votes through a special class of stock and has made it clear that he will run the company as he sees fit. So a proposal on the ballot to strip Mr. Zuckerberg of his super-voting power is more symbolic than real. At the moment, shareholders have little to complain about, with Facebook's revenue and profits soaring, and the stock up about 31 percent over the last year, although some have expressed concerns about Mr. Zuckerberg's costly acquisitions. In another event on Thursday, Oculus, a virtual reality company owned by Facebook, will lay out its product plans, including its first headset that plugs into a personal computer, due out in early 2016.Consumer Sentiment Survey on Friday On Friday morning, the University of Michigan's preliminary survey of consumer sentiment for June is due out, with Wall Street economists expecting a slight improvement from the May level. Consumers have been cautious about spending the windfall from lower energy prices this year, and economists are looking for signs of whether that is changing.
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