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☆ A Dusty Fast-Food Costume Sets Off a Very Canadian Bidding War
▼ + stars: | 2023-07-26 | by ( Lauren Mccarthy | More About Lauren Mccarthy | ) www.nytimes.com time to read: +1 min

“There’s nothing like it, there really isn’t,” he said. Mr. Robinson, 35, is among dozens of people who have placed bids on an adult-size donair costume that is being auctioned off by the provincial government of Alberta in what has become an unlikely demonstration of the Halifax-born street food’s growing popularity across Canada. Bidding for the costume opened on July 14 at 50 Canadian dollars, or about $38. By Wednesday, bidders had pushed the price to just over 16,000 Canadian dollars, or roughly $12,000, with weeks to go before the online auction ends on Aug. 14. Mr. Robinson, a co-founder and owner of Blowers and Grafton, a chain of restaurants with six locations in Alberta that specializes in “authentic Halifax street food,” said he was willing to pay that much, or more, for the suit.

Persons: Josh Robinson, ”, Robinson Locations: Halifax , Nova Scotia, pita, Alberta, Halifax, Grafton

☆ Nidec's acquisitive CEO hails new Japan rules aimed at making takeovers easier
▼ + stars: | 2023-07-23 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

[1/2] Nidec Corp's logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. Nagamori welcomed the prospect of Japan becoming more receptive to unsolicited bids. Because unsolicited bids are seen as taboo, Nidec has typically focused on buying and turning around money-losing companies, he said, but "that takes time". In corporate Japan, unsolicited bids have been seen as too adversarial. he said, referring to Nidec's tender offer price with an 80% premium.

Persons: Kim Kyung, Shigenobu Nagamori, Nagamori, Nidec, Makiko Yamazaki, Miho Uranaka, Robert Birsel Organizations: REUTERS, Thomson Locations: Tokyo, Japan, TOKYO

☆ Go First gets claims worth $2.9 bln from creditors - sources
▼ + stars: | 2023-07-22 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

MUMBAI, July 22 (Reuters) - Go Airlines (India) Ltd has received claims worth 240 billion rupees ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, two banking sources told Reuters. Once the claims are filed, the resolution professional has to check its authenticity. "Claims from the lenders are around 50 billion rupees, while lessors' claims amount to 180 billion rupees so far," a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday. Go Airline's resolution professional has yet to verify the veracity of the claims and did not immediately respond to a Reuters' email seeking comment. The resolution professional is waiting for banks to disburse funds for which in-principal approval was given last month to resume operations, the banker said.

Persons: lessors, Whitney, Siddhi Nayak, Stephen Coates Organizations: Go Airlines, Reuters, Airbus, Raytheon, Airlines, Siddhi, Thomson Locations: MUMBAI, India

TUA Assicurazioni, a non-life company founded in 2003, is valued at around 300 million euros ($335 million), according to the sources. Two sources mentioned German insurance heavyweight Allianz (ALVG.DE), fellow German insurer Talanx (TLXGn.DE) and France's Groupama as potential bidders. One of them also named Italy's Itas as one of up to five parties that could bid in the second round. Talanx has expressed interest in ICCREA's non-life business and is competing with Swiss Helvetia Group (HELN.S), Groupama and Italian cooperative insurer Assimoco. ($1 = 0.8946 euros)Additional reporting by Gianluca Semarero in Milan, writing by Keith Weir Editing by Keith Weir and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: TUA, TUA Assicurazioni, Italy's, ICCREA, Talanx, Rothschild, Mediobanca, Groupama, Gianluca Semarero, Keith Weir, Louise Heavens Organizations: Generali, Cattolica, Allianz, Swiss Helvetia Group, Itas, Thomson Locations: MILAN, Generali, Mediobanca, Talanx, Milan

☆ Dream on Me, which bought Buy Buy Baby's intellectual property, snagged 11 of its store leases at auction, could reopen stores
▼ + stars: | 2023-07-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

"Store Closing" signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023. The New Jersey baby retailer that bought Buy Buy Baby's intellectual property from its bankrupt parent company Bed Bath and Beyond also snatched up 11 of its leases and is well-positioned to reopen stores, court records show. However, Dream on Me could use the Buy Buy Baby IP assets it already obtained – plus the leases – to reopen the beloved chain. The leases Dream on Me won at auction, which are considered to be in prime real estate locations, are primarily dotted across the Northeast. Dream on Me, founded in 1988, has at least six brands under its portfolio, including Evolur Baby, Sweetpea Baby and Slumber Baby.

Persons: Long, Janie, Jack Organizations: Industries, Walmart, Home, CNBC Locations: Brooklyn, New York, The New Jersey, Target, Bath, New Jersey, Paramus, Bridgewater, Woodbridge Township, Cherry Hill, Maryland , Delaware , Massachusetts , Connecticut, Virginia

☆ UK is in danger of becoming the Nigeria of wind
▼ + stars: | 2023-07-20 | by ( George Hay | ) www.reuters.com time to read: +3 min

LONDON, July 20 (Reuters Breakingviews) - Britain is supposed to be the Saudi Arabia of wind power. Vattenfall’s decision on Thursday to halt the 1.4 gigawatt (GW) Norfolk Boreas project is just the latest sign that Britain’s most appropriate fossil-fuel comparator may not be the biggest and most efficient producer. Vattenfall, a state-held Swedish power company, has gone cool for reasons that are well-discussed in the wind sector. The obvious move for UK Prime Minister Rishi Sunak would be to allow developers to charge more for power, to make up for higher costs. Follow @gfhay on TwitterCONTEXT NEWSVattenfall is stopping the development of its 1.4 gigawatt (GW) Norfolk Boreas offshore wind project off the coast of Britain, the state-owned Swedish utility said on July 20.

Persons: Boris Johnson’s, Vattenfall, Rishi Sunak, Liam Proud, Oliver Taslic Organizations: Reuters, Siemens, UK, FTI, Norfolk, Thomson Locations: Britain, Saudi Arabia, United Kingdom, Riyadh, Norfolk Boreas, Swedish, Norfolk, Orsted, Nigeria

☆ US consumer watchdog warns no more 'rubber stamp' for bank mergers
▼ + stars: | 2023-07-20 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

Bank executives, meanwhile, complain that regulators' foot-dragging and uncertainty caused by looming regulatory reforms have depressed merger activity among healthy banks to historic lows. That drew the ire of Democratic Senator Elizabeth Warren, who helped create the CFPB and backed Chopra for the director role. Chopra called in May for the FDIC to adopt changes to bank merger guidelines. He declined to discuss possible changes but said the approval process was already evolving, citing a review of bank merger guidelines undertaken in 2022. Reporting by Douglas Gillison; Editing by Michelle Price and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Rohit Chopra, Banks, Chopra, Janet Yellen, Michael Hsu, JPMorgan Chase, Elizabeth Warren, Douglas Gillison, Michelle Price, Jamie Freed Organizations: Consumer Financial Protection Bureau, Reuters, Federal Deposit Insurance Corporation, Bank, JPMorgan, Democratic Party, First, FDIC, Bank of America, Thomson Locations: First Republic, Wells Fargo

☆ I finally landed a 6-figure book deal after 20 years of trying to become an author. Here's how I did it.
▼ + stars: | 2023-07-19 | by ( Melissa Petro | ) www.businessinsider.com time to read: +6 min

Melissa Petro is a freelance writer, writing instructor, and author in New York City. Days after my story was publicized, my writer friends and other industry folks begrudgingly congratulated me on my presumably imminent book deal. It took about two years to write the book proposal, and I wrote the book in about nine months. She was a Facebook friend of mine whom I saw left her job as a book editor to become a literary agent, so I reached out to her. After working with her to craft my book proposal that ultimately sold, it was a different book — a better one.

Persons: Melissa Petro, I'd, NYC Department of Education —, that's, begrudgingly, who'd, you'll, I've, bylines, it's, she'd, They'll Organizations: Service, Big, Fine Arts, New York Post, NYC Department of Education, Putnam Books, Penguin Random, PEN Locations: New York City, Wall, Silicon

☆ Factbox: Corporate debt woes are on the rise
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +4 min

Size of debt: 14 billion pounds ($18.33 billion). The firm said earlier in July shareholders would provide 750 million pounds, but warned it would need an extra 2.5 billion pounds between 2025-2030. Size of debt: 6.4 billion euros ($7.19 billion) in net debt. What's at stake: Casino faces 3 billion euros of debt repayments in the next two years, with rating agencies Moody's and Standard & Poor's warning a default is likely. Deadlines to watch: Casino aims to secure an agreement with creditors by July 27.

Persons: Toby Melville, What's, Jean, Charles Naouri, Casino, Daniel Kretinsky, Kretinsky, Chiara Elisei, Dhara, Christina Fincher Organizations: Thames, REUTERS, Water, Casino, SBB, Thomson Locations: London, Britain, LONDON, Sweden, France, England, Czech, Brookfield, Spain, Barcelona

☆ Argenx drug boost is mixed blessing for suitors
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters Breakingviews) - Argenx (ARGX.BR) has long been a presumed takeover target for drugmakers like Pfizer (PFE.N). Many of its remedies like Vyvgart, which delivered positive drug trial results on Monday, are likely to reach their peak just as the big drugmakers’ revenues come under patent pressure. Still, the more successful Argenx becomes the more expensive it will be for a potential bidder. Since then the company’s shares have nearly doubled, including a 26% bump on Monday thanks to the positive trial results. Argenx’s drug trial success may give bidders comfort they are not buying a dud, but that reassurance comes with a downside.

Persons: Argenx, Prometheus, Aimee Donnellan, George Hay, Pranav Kiran Organizations: Reuters, Pfizer, Big Pharma, Twitter, Cathay, Thomson Locations: Belgian

☆ Czech billionaire Kretinsky closes in on Casino after 3F abandons bid
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +2 min

Kretinsky has been vying to take control of Casino against the 3F Holding group, led by telecoms entrepreneur Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari. The group is saddled with net debt of 6.4 billion euros ($7.1 billion) and is teetering on the brink of default. "Today, after months of work, 3F has decided to not submit an offer," 3F said in a statement. Along with Marc Ladreit de Lacharrière’s Fimalac, he would inject 1.2 billion euros ($1.35 billion) in equity to take a 53% stake in France's sixth-largest retailer. The bidders would also convert 4.9 billion euros of debt into equity.

Persons: Daniel Kretinsky, Kretinsky, Xavier Niel, Matthieu Pigasse, Moez, Alexandre Zouari, 3F's, Marc Ladreit de, Fimalac, Casino, John Irish, David Holmes, Emelia Organizations: Casino, 3F, Attestor, Financial, Global Commerce, Financial Times, Thomson Locations: Czech, France's, Casino

MEXICO CITY, July 13 (Reuters) - The Mexican government is no longer interested in purchasing Citigroup's (C.N) local retail arm, known as Banamex, a government spokesperson said on Thursday, adding that the U.S. bank "chose a different path" for its unit. Deputy Finance Minister Gabriel Yorio told Reuters at the time that Mexico could pursue a total or partial acquisition of the unit. Government spokesperson Jesus Ramirez did not immediately respond when asked which path the U.S. bank is taking. Before Citi's decision to list Banamex, banking sources said mining conglomerate Grupo Mexico (GMEXICOB.MX) had been eyeing the unit for around $7 billion. Reporting by Valentine Hilaire; Editing by Brendan O'Boyle and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Andres Manuel Lopez Obrador, Gabriel Yorio, Jesus Ramirez, Lopez Obrador, Valentine Hilaire, Brendan O'Boyle, Jamie Freed Organizations: MEXICO CITY, Citi, Reuters, Government, Grupo Mexico, German, Grupo, Spain's Banco Santander, Thomson Locations: MEXICO, U.S, Mexican, Mexico

☆ No one wants Subway
▼ + stars: | 2023-07-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

The move comes as Subway has seen its store count decline by the hundreds over the years. In late January, Buck's foundation, where his two sons work, revealed that the late co-founder had left the charity his 50% stake in Subway . Subway has spent the past few years trimming corporate staff and closing stores under CEO John Chidsey. Despite previous years of slumping sales and store closures, Subway has recently gained some momentum. Are you a Subway insider or franchisee with insight to share?

Persons: Trevor Haynes, Haynes, Peter Buck, John Chidsey, Subway's Organizations: Subway, NY Post, Service, nab, New York Post, Bloomberg, Post Locations: Wall, Silicon, Buck's, Subway

FRANKFURT/LONDON July 13 (Reuters) - Energy majors BP (BP.L) and TotalEnergies (TTEF.PA) have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. The awards for capacity due to come online in 2030 also excluded leading offshore wind developers, such as RWE (RWEG.DE) and Orsted (ORSTED.CO). AUCTION DESIGNThe 7 GW electronic auction officially opened in January and bidders had until June 1 to submit offers. In previous German lease auctions, companies have made low or negative bids with the expectation of subsidies from the state. Industry groups have said the high costs of the leases could drive up the cost of offshore wind projects.

Persons: Bundesnetzagentur, Bernstein, WindEurope, Orsted, Norway's, TotalEnergies, Vera Eckert, Susanna Twidale, Christoph Steitz, Ron Bousso, Nora Buli, Nina Chestney, Barbara Lewis Organizations: Energy, BP, Industry, Thomson Locations: FRANKFURT, Germany, Macquarie, England, Danish

☆ Buy Buy Baby stores set to shutter as Go Global's deal to save chain falls apart at eleventh hour
▼ + stars: | 2023-07-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Signs stating everything is on sale at a Buy Buy Baby store in the Brooklyn borough of New York, Feb. 6, 2023. Buy Buy Baby's stores are set to disappear after a last ditch effort to save the chain and keep the business alive fell apart, CNBC has learned. Sixth Street was not unreasonable but there was a difference in opinion on valuation," he said. However, nearly three months into liquidation sales at Buy Buy Baby's 120 stores, there was very little left to bid on besides its IP, empty stores, leases and whatever inventory was left, said the source. During a hearing in federal bankruptcy court in Newark, New Jersey, on Tuesday, Judge Vincent Papalia approved the sale of Buy Buy Baby's intellectual property to Dream on Me as one of the bidder's staffers, who appeared virtually via Zoom for the hearing, was seen smoking a cigarette on screen.

Persons: Janie, Jack, Jeff Streader, Streader, Judge Vincent Papalia, aren't Organizations: CNBC, Brand, Go Global, Sixth Street Partners, Bed, Global, Industries, Sixth, Go Locations: Brooklyn, New York, New Jersey, Newark , New Jersey

☆ Auction of Charlie Watts' book collection includes signed 'Great Gatsby' first edition
▼ + stars: | 2023-07-10 | by ( Amarachi Orie | ) edition.cnn.com time to read: +3 min

CNN —A collection of first-edition books and jazz memorabilia belonging to the late Rolling Stones drummer Charlie Watts will go up for auction in September. Leading the auction will be a signed first-edition copy of F. Scott Fitzgerald's "The Great Gatsby." “Charlie built his collection of modern literature and jazz with passion, intelligence and dedication, and this two-part auction celebrates his distinguished collecting taste,” they added. Christie's Images Limited 2023The collection also includes objects that once belonged to jazz legends, including Watts’ favorite saxophonist, the late Charlie Parker, according to the release. Christie's Images Limited 2023Highlights from the collection will go on display in Los Angeles between July 25 and 29 and New York between September 5 and 8.

Persons: Charlie Watts, Scott Fitzgerald, Scott Fitzgerald's, Benedict Winter, Mark Wiltshire, “ Charlie, George Orwell, Agatha Christie, James Joyce, Fitzgerald, Watts, Charlie Parker, Parker, Irving Berlin, George Gershwin’s, “ Porgy, Bess, ”, Charlie, Dave Green Organizations: CNN Locations: London, American, British, Los Angeles, New York

☆ Here's what a block of a cream cheese says about the state of inflation
▼ + stars: | 2023-07-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

When a bagel with cream cheese doubles in cost the taste is tainted. So, 'getting there, going in the right direction' is the language we will hear about the state of inflation Wednesday morning. But it's not just about the cost of a block of cream cheese. Whether it's a block of cream cheese going for $150 or a Toll Brothers (TOL) home selling for $1 million, with multiple bidders, we are all bewildered. The longer a block of cream cheese stays at $150, the more ingrained it gets.

Persons: –, that's, it's, Biden, Jerome Powell, Powell, It's, Let's, Jim Cramer's, Jim Cramer, Jim Organizations: U.S . Labor Department, Federal Reserve, Trump, Jim Cramer's Charitable, CNBC Locations: Goldberg's, Westhampton Beach , NY, Ukraine, Covid

☆ Buy Buy Baby auction is canceled, but buyers are still interested in making a bid
▼ + stars: | 2023-07-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

"Store Closing" signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023. While it would be unusual, Bed Bath & Beyond could still accept a bid for Buy Buy Baby early next week. The company, a little known New Jersey-based retailer and one of Buy Buy Baby's former suppliers, agreed to buy its trademark and digital assets for $15.5 million if no higher bids arise. As the auction process dragged on and Buy Buy Baby's inventory dwindled, so did its value. It is not clear what Dream on Me plans to do with Buy Buy Baby if it ends up the ultimate victor.

Persons: that's, Janie, Jack, Overstock.com Organizations: CNBC, Industries, Beyond's, Bed, Ankura Capital Advisors Locations: Brooklyn, New York, New Jersey

☆ KKR wins $2 billion bidding war the old-fashioned way
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, June 30 (Reuters Breakingviews) - KKR (KKR.N) has affirmed a simple lesson: price matters. The private-equity giant made a bumped-up $2 billion offer for valve-maker Circor International (CIR.N) on Thursday that tops an offer from a rival. KKR broke the mold by offering sweeteners other than money – but in the end, it threw in more cash too. Circor’s board says KKR’s offer is more valuable because it can close more quickly. KKR knows that money isn’t the only thing that talks, but it still talks pretty loudly.

Persons: Jonathan Guilford, ’, crouch, John Foley, Streisand Neto Organizations: YORK, Reuters, KKR, Circor, Arcline Investment Management, Twitter, Thomson Locations: China

☆ This map shows where Bed Bath & Beyond stores are being replaced by other retailers
▼ + stars: | 2023-06-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

"In aggregate the Bed Bath & Beyond locations were some of the best that I've seen become available. The leases are for both Bed Bath & Beyond and Buy Buy Baby locations. Leases for the Buy Buy Baby outposts could be clawed back depending on what happens at an auction for the chain's assets, Bed Bath said in a court filing. Bed Bath raked in $24.41 million in all from the lease auction. A portion of those proceeds will likely go to unpaid rents at the locations and the rest will go to Bed Bath to pay the retailer's many creditors.

Persons: BURL, Bill Read, Read, Macy's, Noble, they'd, weren't Organizations: Burlington Stores, Burlington, Specialists, Target, CNBC, Factory, Barnes, Bed Locations: Burlington, America, , Florida, Concord , North Carolina, Bed Bath, Bath

Bed Bath & Beyond is splitting the bankruptcy-run auction of its Buy Buy Baby chain into two phases as the retailer struggles to nail down bids in a sale process now shrouded in doubt. An auction for all of Buy Buy Baby's assets was originally scheduled for 10 a.m. An initial winner will likely be chosen during Wednesday's intellectual property auction. The decision to split up the bidding comes after the retailer held separate sale proceedings for its Buy Buy Baby and Bed Bath & Beyond banners. The banner, which sells baby goods such as strollers, clothes and cribs, has long been considered the crown jewel of Bed Bath & Beyond's assets.

Persons: weren't

Overstock.com is going all in on failed retailer Bed Bath & Beyond. It will relaunch the Bed Bath & Beyond website in Canada within the next week, followed by a rollout of a website, mobile app and loyalty program in the U.S. "weeks later." "Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace," Overstock CEO Jonathan Johnson said in a statement. Overstock will not acquire any brick-and-mortar Bed Bath stores as part of the deal. A number of bidders have expressed interest in Buy Buy Baby's stores but it remains unclear if any will be bought and kept open.

Persons: Overstock, Jonathan Johnson Organizations: United Parcel Service, Bed Locations: Salt Lake City , Utah, Overstock.com, Canada, U.S

☆ Klimt’s ‘Lady With a Fan’ Brings $108.4 Million, Auction Record for the Artist
▼ + stars: | 2023-06-27 | by ( Scott Reyburn | ) www.nytimes.com time to read: +1 min

Post-Brexit London regained some credibility as the capital of Europe’s high-value art market on Tuesday when a radiant portrait by Gustav Klimt, “Lady With a Fan,” sold at Sotheby’s for 85.3 million pounds with fees, or about $108.4 million. The price was an auction high for the renowned Austrian artist and was the highest for a public sale in Europe, beating Alberto Giacometti’s “Walking Man I,” which sold for $104.3 million in 2010, also at Sotheby’s in London. The audience erupted into the sort of thunderous applause that hasn’t been heard at a London auction for some years. “The price was within our expectations,” said Wong, the former chair of Sotheby’s Asia, who added that she was buying for a Hong Kong collector. The final price topped Klimt’s previous auction high of $104.6 million, given in November for the 1903 landscape “Birch Forest,” at Christie’s, in New York.

Persons: Gustav Klimt, ”, Alberto Giacometti’s “, Patti Wong, hasn’t, Wong Locations: Europe’s, Austrian, Europe, Sotheby’s, London, Hong Kong, Asia, Birch, ”, Christie’s, New York

☆ What Is Happening in the Housing Market?
▼ + stars: | 2023-06-26 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Mortgage rates are now hovering around 7 percent — the highest they’ve been since 2007 — thanks to the Federal Reserve’s efforts to tame inflation. Mr. Martinez, a tech worker, expected that to cool down Miami real estate. He has made seven or eight offers and is willing to put 25 percent down, but he keeps losing, often to people paying cash instead of taking out a pricey mortgage. The Fed’s rate increases are aimed at slowing America’s economy — in part by restraining the housing market — to try to bring inflation under control. Those moves worked quickly at first to weaken interest-sensitive parts of the economy: Housing markets across the United States pulled back notably last year.

Persons: Gianni Martinez, Martinez, Mr, ” Locations: Miami, United States

☆ Goldman Sachs faces big writedown on GreenSky deal, CNBC reports
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - Goldman Sachs (GS.N) is likely to take a large writedown for its $2.2 billion acquisition of fintech lender GreenSky after seeking to divest the business it bought in 2021, CNBC reported on Friday, citing people with knowledge of the sale process. One bidder said GreenSky's loan origination platform is worth roughly $300 million, while another said it was worth closer to $500 million, according to the report. CNBC added the bids for the platform, which facilitates home improvement loans to consumers, were coming in well below Goldman's expectations. Shares of Goldman were down about 1.4% in mid-morning trading. The bank has been running a sale process for GreenSky, and may take a writedown on the $500 million of goodwill, or the premium it paid above the assets' book value, Goldman President and Chief Operating Officer John Waldron told investors at a conference in June.

Persons: Goldman Sachs, Goldman, We're, John Waldron, Warburg Pincus, Manya Saini, Jaiveer Shekhawat, Shinjini Organizations: CNBC, Goldman, KKR, Apollo Global Management, Sixth Street Partners, Synchrony Bank, Thomson Locations: Bengaluru

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