General Electric Expects 60 Percent of Sales From Outside U.S. in 5 Years

(Bloomberg) -- General Electric Co., the world's
biggest maker of power generators, expects as much as 60 percent
of sales to come from outside the U.S. within five years as the
company targets emerging markets such as China and India.

Revenue from outside the company's domestic market is
currently 50 percent, Fairfield, Connecticut-based GE said in a
statement handed to reporters in Kuala Lumpur today.


Read more at Bloomberg Emerging Markets News

Basell to buy Lyondell for about $12.14 billion

(Reuters) - The deal value of $12.14 billion is based on Lyondell's shares outstanding as of March 31.




Basell has been on the look out for acquisitions in the chemical sector and recently lost out to Saudi-based SABIC in the auction process for General Electric Co.'s GE Plastics.


Read more at Reuters.com Bonds News

Asia Energy Day Ahead: Crude Oil May Fall; GE Profit Increases 12 Percent

(Bloomberg) -- Crude oil may fall next week on
speculation U.S. gasoline inventories will increase as
refineries finish maintenance. General Electric Co., the world's
second-biggest company by market value, said second-quarter
profit rose 12 percent on sales of power-plant turbines, jet
engines and commercial loans outside the U.S.

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Read more at Bloomberg Energy News

General Electric Plans to Seek Buyer for Three-Year-Old Subprime Loan Unit

(Bloomberg) -- General Electric Co. plans to sell
its three-year-old U.S. subprime mortgage unit following a surge
in defaults by borrowers.

``The mortgage industry has greatly changed since the
purchase of WMC,'' Laurent Bossard, chief executive officer of
the division, said in an e-mail to employees yesterday. ``The
current subprime market environment has made a significant
negative impact on the business.''


Read more at Bloomberg Bonds News

UPDATE 1-Ottawa says no plans to sell nuclear agency stake

(Reuters) - The Toronto Star said on Friday that Natural Resources
Minister Gary Lunn has been leading privatization discussions
with General Electric Co. It quoted a source close to GE
as saying the company is confident that this is a "done deal."




"There are no formal negotiations underway with anyone,"
Kathleen Olson, spokeswoman for Lunn, told Reuters.


Read more at Reuters.com Mergers News

Murdoch says Dow Jones price 'worth paying'-Time

(Reuters) - Murdoch, the chief executive of global media conglomerate News Corp. , has long coveted the publisher of the Wall Street Journal newspaper, seen as one of the world's most reputable business news source.



But it was not until News Corp. planned to take on General Electric Co.'s CNBC channel with the upcoming Fox Business Channel, that Murdoch rationalized offering to pay $60 per share, a 65 percent premium, for an "economically stagnant" newspaper publisher, Time reported on its Web site.


Read more at Reuters.com Mergers News

Wall St. set for higher open on M&A

(Reuters) - Shares of Alcoa rose 3 percent in Europe after the Times newspaper in London reported BHP Billiton Ltd./Plc , the world's biggest mining group, has revived plans for a $40 billion takeover of the aluminum producer.




In other deal news, General Electric Co. and Pearson Plc may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.


Read more at Reuters.com Hot Stocks News

U.S. Stocks Climb on Takeovers; S&P Rises Above Record Close Set in 2000

(Bloomberg) -- U.S. stocks climbed and the Standard &
Poor's 500 Index rose above its highest close after Goldman Sachs
Group Inc. and TPG Inc. agreed to buy Alltel Corp. for about
$24.7 billion, extending this year's record pace of mergers and
acquisitions.

Alltel, the fifth-biggest U.S. wireless company, rallied to
its highest in almost eight years and was the best performer in
the S&P 500 after the $71.50-a-share offer. General Electric Co.
advanced after the world's second-largest company by market value
said it will boost its share buyback plan by as much as $2
billion with proceeds from the sale of its plastics unit.


Read more at Bloomberg Stocks News