Portugal expects to finalize sale of minority stake in TAP Air Portugal to Air France-KLM or Lufthansa, though approval may take another year, Bloomberg reports.

Ares Management nears deal to take control of French football club Olympique Lyonnais alongside businesswoman Michele Kang, sources say.

Ares Management is close to agreeing a deal to take control of financially-stricken French football club Olympique Lyonnais, alongside businesswoman Michele Kang, sources say.

Germany rejects UniCredit's takeover offer for Commerzbank, calling bid inadequate and reaffirming support for bank's independence. The government, holding 12% of shares, said the offer lacks a sufficient premium over the current share price.

The German government on Tuesday rejected Italian bank UniCredit's takeover offer for Commerzbank, escalating the battle over Germany's second-largest private bank. The finance agency said the bid lacks an adequate premium, and the government reiterated its support for Commerzbank's independence.

Volkswagen uses sealed bids to avoid conflicts in $10B engine sale – FT

Volkswagen is resorting to sealed bids to avoid conflicts in the sale of its $10 billion engine business, according to the Financial Times.

Phoenix Tailings gets $500M conditional commitment from Pentagon's Office of Strategic Capital for domestic rare-earth processing facility.

Mining startup Phoenix Tailings received a conditional commitment for $500 million in long-term debt financing from the Pentagon’s Office of Strategic Capital to help build a domestic rare-earth processing facility.