Deutsche Bank Ag

Germany's Deutsche Bank is in talks to buy Bankers Trust Corp., three executives familiar with the discussions said, in a deal that would be worth more than $8 billion--and would be the largest foreign takeover of a U.S. financial firm. The purchase, which has been rumored for the last month and could be announced today, would give Germany's biggest bank control of the eighth-largest U.S.

MGM Mirage and Dubai World failed to reach agreement with Deutsche Bank and talks on a $1.2-billion loan to complete the Las Vegas CityCenter project collapsed, according to five people with knowledge of the matter. Deutsche Bank was seeking equity and debt stakes in the $11.2-billion development on the Las Vegas Strip in return for the loan. MGM Mirage and Dubai World are now holding talks with other parties, one of the people said.

Bank of Boston has completed the sale of its Newport Beach-based Ganis Credit unit to a unit of Deutsche Bank AG for $30 million. Ganis, which provides financing for recreational vehicle and marine boat purchases, will operate as a unit of Deutsche Financial Services in St. Louis.

Paramount Pictures has ditched efforts to raise $400 million to $450 million in film financing through Deutsche Bank that would have helped bankroll its movies over the next two years, the studio said Monday. Deutsche, which has been a leader in film financing, sought terms that Paramount found too steep. "The deal terms had evolved to a point where they were unattractive when compared to alternative sources of financing," said Patricia Rockenwagner, a spokeswoman for the studio.

Deutsche Bank, West Germany's biggest bank, stepped in today as Morgan Grenfell Group PLC's "white knight," agreeing to pay $1.47 billion to acquire the British investment bank. Share analysts said the deal with Deutsche Bank AG at $8.52 a share looked likely to fend off an unwelcome approach from French-based Banque Indosuez, which has built up a 14.9% stake in Morgan.

Deutsche Bank AG, Germany's biggest bank, said Thursday that it helped finance construction of the Nazi death camp at Auschwitz--a surprise revelation that came in the middle of its bid to buy America's eighth biggest bank. The announcement, made by the company's historian in Frankfurt, cast a shadow over the German bank's effort to complete its planned $10.1-billion takeover of Bankers Trust.

Frankfurt, Germany-based Deutsche Bank said Thursday that it had agreed to pay $325 million to settle claims in a class-action suit brought after the collapse of WorldCom Inc. The announcement came shortly after New York Comptroller Alan Hevesi announced that two other investment banking firms would pay $112.5 million to settle claims in the case. Hevesi is the court-appointed lead plaintiff in the case.

Paramount Pictures has ditched efforts to raise $400 million to $450 million in film financing through Deutsche Bank that would have helped bankroll its movies over the next two years, the studio said Monday. Deutsche, which has been a leader in film financing, sought terms that Paramount found too steep. "The deal terms had evolved to a point where they were unattractive when compared to alternative sources of financing," said Patricia Rockenwagner, a spokeswoman for the studio.

Alfred Herrhausen, the head of West Germany's largest bank and one of the most powerful men in Europe, was killed in a bomb attack Thursday while he was en route to his office in Frankfurt. The office of the chief federal prosecutor said that the Red Army Faction, a terrorist organization, had claimed responsibility for the attack in a letter left at the scene.

Deutsche Bank agreed to pay Enron Corp. $25 million and to give up $416 million in unsecured claims to resolve litigation filed by the defunct energy trader during its bankruptcy. In exchange, Enron won't dispute $378 million in unsecured claims the German bank has against it. Deutsche Bank also accepted $35 million to surrender its interests in three transactions. The proceeds, expected to exceed $100 million, will be distributed to Enron's creditors.

Deutsche Bank said Wednesday that it would write off about $3.1 billion in losses from the U.S. mortgage morass, but that gains from asset sales and tax credits would allow Germany's biggest bank to report a third-quarter profit of nearly $2 billion. In the face of the write-down, the latest to hit major banks in the U.S. and Europe, Chief Executive Josef Ackermann remained upbeat about the bank's future.

Deutsche Bank has agreed to pay $208 million to end state and federal investigations into the timing of trading in mutual fund accounts that could benefit insiders and hurt other investors. The settlement is the 21st by New York Atty. Gen. Eliot Spitzer in his mutual fund investigation over the last three years. The settlements called for more than $3.9 billion in restitution for investors.

Deutsche Bank won a court fight to reopen part of a Texas law firm's settlement of a class-action lawsuit accusing the firm, the bank and others of selling improper tax shelters. The U.S. 2nd Circuit Court of Appeals in New York said the February 2005 accord approved by a lower court judge was unfair to Deutsche Bank and its investment banking unit, as well as other defendants that hadn't resolved their liability. Dallas-based Jenkens & Gilchrist reached an $81.

Frankfurt, Germany-based Deutsche Bank said Thursday that it had agreed to pay $325 million to settle claims in a class-action suit brought after the collapse of WorldCom Inc. The announcement came shortly after New York Comptroller Alan Hevesi announced that two other investment banking firms would pay $112.5 million to settle claims in the case. Hevesi is the court-appointed lead plaintiff in the case.

Deutsche Bank and Thomas Weisel Partners will pay a total of $100 million to settle allegations that they published misleading stock research to win investment banking business, California corporate regulators said Thursday. The settlements have been in the works for more than a year. Ten other securities firms, including Merrill Lynch & Co. and Citigroup Inc., agreed in April 2003 to pay more than $1.4 billion in penalties and separate their research and investment banking businesses.

Deutsche Bank won a court fight to reopen part of a Texas law firm's settlement of a class-action lawsuit accusing the firm, the bank and others of selling improper tax shelters. The U.S. 2nd Circuit Court of Appeals in New York said the February 2005 accord approved by a lower court judge was unfair to Deutsche Bank and its investment banking unit, as well as other defendants that hadn't resolved their liability. Dallas-based Jenkens & Gilchrist reached an $81.

Citigroup Inc., Deutsche Bank, Goldman Sachs Group Inc. and Miller Tabak Roberts Securities agreed to pay a total of $20 million to settle allegations that they overcharged investors for high-yield corporate bonds. The four firms will pay $5 million each, without admitting or denying wrongdoing, as part of a settlement with NASD, the Washington-based regulator said.

Citigroup Inc., Deutsche Bank, Goldman Sachs Group Inc. and Miller Tabak Roberts Securities agreed to pay a total of $20 million to settle allegations that they overcharged investors for high-yield corporate bonds. The four firms will pay $5 million each, without admitting or denying wrongdoing, as part of a settlement with NASD, the Washington-based regulator said.

Air Canada failed to reach agreement with all its unions on additional cost cuts, missing a midnight deadline imposed by Deutsche Bank as a condition for financing aimed at lifting the airline out of bankruptcy. Six of the nine bargaining units agreed to the cuts, the airline said in statements. Talks continue in Toronto with the other unions, including the Canadian Union of Public Employees and the Canadian Auto Workers, the Montreal-based airline said.