Dell Pulls Out of 3PAR Bidding War With H-P

Record Total of Bookrunners for AIA IPO

American International Group's application to list its main pan-Asian life insurer contained a record 11 bookrunners, people familiar with the matter said, a further sign that the company is determined to raise as much money as possible.

Brazil, Petrobras Reach Oil Deal

Oil giant Petroleo Brasileiro has agreed to pay Brazil $42.5 billion in stock to acquire five billion barrels of deepwater reserves, a controversial price because investors say it is more than the oil is actually worth.

Avis Increases Cash Portion of Dollar Thrifty Bid

Avis increased the cash portion of its offer for Dollar Thrifty as it battles Hertz for the potential buyout.

• More from the Deal Journal blog

Garuda Taps UBS, Citigroup for IPO

Airline company PT Garuda Indonesia has appointed UBS and Citigroup as international underwriters for its initial public offering, scheduled for later this year.

Clashing Testimony on Lehman

The Democratic chairman of a blue-ribbon panel examining the U.S. financial crisis said that government officials made a "conscious policy decision" not to prevent Lehman Brothers' 2008 collapse, potentially accelerating the financial crisis.

• Deal Journal: The Fuld Hearing
• Text of Fuld's prepared testimony
• Photos: In the Committee Room
• Readers React: 'Too leveraged, playing games'
• Preview: Goldman Needn't Worry

SEC Charges Wharton Buddies

The Securities and Exchange Commission settled insider trading allegations against a former hedge-fund manager and an executive at Merck & Co., involving a big drug-company deal in 2007.

• SEC complaint

Mediator to Guide Tribune Talks

Tribune said a court-appointed mediator will help negotiate among sparring creditors in the company's 21-month stint in bankruptcy.

Fast-Food Firms Heat Up

After a little more than four years trading on the Big Board, Burger King's stock was little changed through Tuesday's close, while some of its major competitors' have soared.

Ping An to Increase Shenzhen Bank Stake

Ping An Insurance (Group) Co. of China plans to acquire an additional 32% stake in Shenzhen Development Bank for $4.27 billion in a private placement to control the national lender.

Couche-Tard Boosts Offer

Couche-Tard raised its takeover bid for Casey's General Stores, increasing the per-share price of the now $1.45 billion hostile offer by 4.8%.

Pfizer Agrees to Acquire FoldRx

Pfizer agreed to buy privately held FoldRx Pharmaceuticals, whose leading drug candidate is a therapy for a genetic neurodegenerative disease for which the only current therapy is a liver transplant.

China Eyes Potash Corp.

As Sinochem hired HSBC to suss out a possible bid for Potash of Saskatchewan, the Canadian province's top official expressed grave concerns about such a takeover.