Swatch is trending as the company is set to buy the luxury jewelry business of Harry Winston for about $1 billion. Swatch will pay $750 million in cash and assume up to $250 million in debt. The acquisition will allow Swatch, the biggest watchmaker by sales, to enter into the high-end jewelry market. The acquisition includes the Harry Winston production company and about 500 employees around the world. The deal does not include the mining activities of Harry Winston Diamond Corp. The two companies do plan to explore opportunities for a joint diamond polishing venture.
Billabong is another popular search. The Australian surfing apparel company said it has received a competing takeover bid of 526.8 million Australian dollars ($555.5 million) from a U.S. group including clothing company VF Corp. ( VFC). The bid from VF Corp. matches a previous offer Billabong received in December from a group including board member Paul Naude, Sycamore Partners Management and Bank of America ( BAC) Merrill Lynch.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.