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More private-equity managers plan to sell minority stakes in the coming years, as the industry’s ongoing downturn drives firms to seek outside investment. But it remains to be seen whether buyer enthusiasm will match that of sellers.

Firms will pay $7.4 billion after Trian first took a stake in 2020 and publicized an offer in October.

U.S. stock and bond markets close early for Christmas Eve.

Cook, the sportswear retailer’s lead independent director, bought $2.9 million in shares days after the stock tumbled on a disappointing forecast.

Oil edged higher in the morning Asian session amid geopolitical tensions.

Oil futures edged lower in the morning Asian session on a likely technical correction after WTI and Brent crude oil futures settled 2.6% higher on Monday.

Oil futures extended gains. Ritterbusch sees risk to Venezuelan supply as “less supportive” than developments in Russia-Ukraine.

Crude futures ended a shortened pre-Christmas session with little change as U.S. actions to contain Venezuela’s oil trade and continuing Russia-Ukraine tensions provided support against views of oversupply.

Crude futures picked up from early losses and added to yesterday’s gains as the U.S. stepped up actions in the Caribbean to cut off Venezuela’s oil trade and increased pressure on the country’s strongman Nicolás Maduro.

Oil futures were losing ground in choppy holiday trade while remaining on track for weekly gains.