Deals of the Day compiles this morning’s biggest news about mergers and acquisitions, banking, bankruptcy and more. Catch us on Twitter, @WSJDealJournal.
Mergers & Acquisitions
GM-Peugeot: GM plans to extend a $335 million lifeline to struggling French auto maker PSA Peugeot Citroën as part of a tie-up that each hopes will aid turnarounds at their struggling European car operations. [WSJ]
Related: With General Motors limited in what it can do about its woeful European operations, taking a stake in France’s No. 2 car maker might not be such a bad idea. [Heard on the Street]
Ahlsell: CVC Capital is spending €1.8 billion to acquire Swedish building materials firm Ahlsell from Cinven and Goldman Sachs Capital Partners. [Financial News]
Micron-Intel: Micron Technology will pay $600 million to buy back Intel’s stake in two wafer factories as the chipmaker bets on the fast-growing NAND flash market to offset margin erosion in its mainstay memory chips. [Reuters]
BankAtlantic: BB&T purchase of BankAtlantic’s lending business was blocked by a Delaware Chancery Court judge, who agreed with hedge-fund investors that the deal favored BankAtlantic’s management over debtholders. [Reuters]
Financial Institutions
Banks are lending: U.S. banks increased lending by $130 billion in the last three months of 2011, posting the largest quarterly pickup in four years and marking a possible upswing in the economic rebound. [WSJ]
Deposits keep rising: Deposits continued growing at a brisk pace in the fourth quarter. The danger is that too much hot money eventually leaves banks feeling cold. [Heard on the Street]
AIG: The Federal Reserve Bank of New York sold the last distressed mortgage bonds from an entity that aided the bailout of American International Group Inc., reaping a $2.8 billion gain for U.S. taxpayers on the sales over the past year and closing a controversial chapter in the central bank’s response to the financial crisis. [WSJ]
Goldman Sachs: The firm disclosed for the first time the gross value of credit-default swaps the firm purchased and sold relating to Greece, Ireland, Italy, Portugal and Spain. [Bloomberg]
Related: Goldman recorded trading losses on 17 days in the fourth quarter, down from 21 days in the prior period. [Bloomberg News]
Wall Street pay: The smaller bonus checks that hit accounts across the financial-services industry this month are making it difficult to maintain the lifestyles that Wall Street workers expect. [Bloomberg]
Legal & Regulatory
Goldman Sachs: Criminal authorities are investigating whether a top Goldman Sachs manager passed inside information about technology stocks to the firm’s hedge-fund clients. [WSJ]
Mortgage bonds: Goldman Sachs, J.P. Morgan and Wells Fargo have been told U.S. securities regulators may sue them in civil court over allegedly shoddy disclosures of the risks of subprime mortgage bonds tied to the financial crisis. [WSJ]
Companies & Industries
Yahoo vs. Facebook: Yahoo’s attempt to wring patent fees from Facebook reflects the increasing worth of social networking sites, legal experts say. [WSJ]
Related; Call him the long lost Winklevoss triplet—Yahoo chief Scott Thompson looks like the latest sore loser that wishes he invented Facebook. [WSJ]
Wynn Resorts: Las Vegas Sands chief Sheldon Adelson said offering complimentary rooms is common practice in the gambling industry, suggesting that Wynn Resorts may have gone too far in ousting co-founder Kazuo Okada. [WSJ]
Boss Talk
Reid Hoffman: It sometimes feels as though LinkedIn co-founder Reid Hoffman has been involved in every major tech start-up in the last decade, either as an entrepreneur, investor or adviser.
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