Global Investment Roundups

Source: Citigroup Cutting More Jobs Soon; Housing Outlook Remains Bleak; Consolidating Waste; Declining Euro; Huntsman Sues Apollo; GM Boost Prices, Cuts Costs; Safran Woos with Higher Offer; Motorola Slumps on "Sell" Rating

  • Citigroup Inc. (C) may lay off more workers this week under a March plan to cut its trading and investment-banking workforce by about 6,000, or 10%. So far, about half of the jobs have been shed, a source with knowledge of the matter told Bloomberg.
  • Republic Services Inc. (RSG) said yesterday (Monday) that it would buy Allied Waste Industries (AW) in a $6.07 billion stock deal that would combine the second- and third-largest disposal companies in the industry. Republic Services Inc. will pay Allied Waste shareholders .45 worth of a Republic share for each share held, valued at $14.04 per share based on Republic's Friday closing stock price of $31.19, the Associated Press reported.
  • French firm Safran SA (PINK: SAFRY) made a $300 billion cash offer for the secure ID business of Digimarc Corp. (DMRC) topping a previous offer from L-1 Identity Solutions Inc. (ID) put forth in March, Reuters reported. In a statement. Digimarc said its board has determined that Safran's proposal "could reasonably be expected to lead to a superior proposal," which would allow the company a chance to back on out on its deal with L-1.
  • Shares of Motorola Inc. (MOT) dropped over 6% yesterday (Monday) after analysts downgraded the outlook for the mobile phone maker. The stock dropped 50 cents to close at $7.44 after analysts at Piper Jaffray Cos. (PJC) and Avian Securities lowered ratings on Motorola stock, Reuters reported.