The Traderszone Network

A consortium of investors from Hong Kong and Abu Dhabi is launching a bid to buy Reebok from Adidas in a move that, if successful, would unwind an eight-year-old marriage of sneaker makers that has shown disappointing results.
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Markets in Asia zipped higher after a wild trading week as market participants cheered upbeat U.S. data and corporate earnings.

Mad Money’s Jim Cramer says the checklist he created Monday has been fulfilled and investors can safely do some buying.

Japanese stocks led a rally in Asia on Monday, after solid U.S. MSCI’s broadest index of Asia-Pacific shares outside Japan surged 1.3 percent, while Japan’s Nikkei stock average jumped about 3.4 percent, on track to post the biggest daily rise in more than a year and retaking some of the 5 percent it shed in the previous week.

An investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government is launching a bid to buy Reebok from Adidas AG for about $2.2 billion, the Wall Street Journal reported Sunday. Jynwel Capital, a Hong Kong-based private equity investment and advisory firm run by Jho Low, and the Abu Dhabi government-affiliated funds planned to make the offer imminently in a letter to Adidas directors, the Journal reported, citing unnamed sources close to the matter.

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Nearly half of Japanese firms think the government should start defending the yen at this month’s dollar high of 110, a Reuters survey shows, underscoring the threat that rising fuel and other import costs pose to a fragile economy. Over the past two years, Prime Minister Shinzo Abe has sought to boost the economy and cure deflation with bold monetary stimulus that has successfully wrought a much weaker yen.

IBM reaches an agreement for Globalfoundries to take over its semiconductor operations, The Wall Street Journal reports.
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