ENERGY

Oil Prices Slide on Energy Secretary’s Comments

Crude oil prices slipped yesterday after the energy secretary, Samuel Bodman, said extra supplies can replace oil lost from the shutdown of a major Alaskan pipeline owned by BP PLC.

The Energy Information Administration, the government’s energy statistics arm, said in its short-term energy outlook earlier in the day that, based on BP’s statement Monday that recovery would take several months, it expects Alaskan crude oil production to gradually return to full production before February. That would result in the loss of about 50 million barrels of oil over the next six months.

— Associated Press

GLOBAL MARKETS

Japanese Stocks Decline After Fed Points To Inflation Risks

Japanese stocks dropped after the Federal Reserve, which left borrowing costs unchanged yesterday, said inflation risks still remain in America raising speculation the central bank will resume its rate increases later this year.

Exporters such as Canon Inc. and Sony Corp. declined.

The Nikkei 225 Stock Average lost 103.87, or 0.7%, to 15,360.79 as of 9:28 a.m. in Tokyo. The broader Topix index fell 9.14, or 0.6%, to 1553.59.

Nikkei futures expiring in September retreated 0.3 percent to 15,370 in Osaka and fell 0.4% to 15,370 in Singapore.

— Bloomberg News

MERGERS & ACQUISITIONS

Aramark in Pact To Be Acquired in $8.3B Deal

Concessionaire Aramark Corp. yesterday said it agreed to be acquired by a group of private-equity investors in a deal valued around $8.3 billion, including the assumption of debt.

Under the terms of the agreement, Aramark stockholders will receive $33.80 in cash for each Aramark share, representing a 2% premium to the company’s Monday closing stock price of $33.05.

Shares of Aramark reacted negatively to the privatization deal, which some had expected to fetch as high as $36 to $37 a share. Its stock recently traded at $32.72, off 33 cents, or 1%.

— Dow Jones Newswires