Indonesian tycoon Salim wins close shareholder vote on controversial $3 billion deal

Indonesian tycoon Anthoni Salim narrowly won shareholder backing on Friday for a $3 billion takeover transaction between companies he controls, overcoming criticism about the deal’s valuation and questions about corporate governance. First Pacific Co Ltd (0142.HK), Salim’s holding company, said in a filing to the Hong Kong stock exchange that a takeover by its subsidiary […]

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Daimler to stop building sedans in the U.S. after second-quarter loss

Daimler (DAIGn.DE) will stop building Mercedes-Benz sedans in the United States and Mexico as it seeks deeper cuts after posting a smaller-than-expected quarterly loss. The German automaker will halt output of its Mercedes-Benz C-Class sedan in Tuscaloosa, Alabama, leaving the plant producing sport utility vehicles (SUVs) only, it said. It will also stop producing of […]

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