Philadelphia Inquirer owners George Norcross III and Lewis Katz, who are at odds over the management of the newspaper company, are pushing it back to the auction block a few years after emerging from a bankruptcy.
Deals
Israeli court gives control of IDB Holding Corp to Argentina's Eduardo Elsztain
The $570 million debt settlement offer that will give control of Israel's IDB Holding Corp to Argentine businessman Eduardo Elsztain was approved by a court in Tel Aviv, Bloomberg reported.
Commerzbank sees opportunity to expand wealth management business following Credit Suisse's German bank exit
Commerzbank is anticipating opportunities to expand its wealth management business after Swiss Credit Suisse Group sold its private bank in Germany to Bethmann Bank last month.
Alitalia seeks €50M additional loan from Italian lenders UniCredit, Intesa Sanpaolo
Alitala, Italy's flag carrier, has written to Italian banks UniCredit and Intesa Sanpaolo asking to extend an existing loan agreement by €50 million. This comes on top of the €200 million in bank loans agreed on in October.
JPMSL Copthall picks up 1pct stake in Indian travel company Cox & Kings
JPMSL Copthall Mauritius Investment Ltd. has acquired a little over 1% stake in Cox & Kings by buying 6,84,216 shares on Friday and 8,13,172 shares the day before. Shares in Cox & Kings closed at INR136.15 apiece on Friday's trading.
Latest News
China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
Malaysian firm Cahya Mata Sarawak has agreed to work with various companies to build the first integrated phosphate facility Southeast Asia, the Daily Express reported.
Canada resurrected a $4.7 billion agreement to buy Sikorsky helicopters from United Technologies Corp which Ottawa nearly scrapped due to delays and complications it encountered, Reuters reported.
Tactus Technology, an on-demand tactile surfaces provider, said it closed the first part of its Series B funding round with existing investors led by Thomvest Ventures and the participation new investors from Asia.
The US 6th Circuit Court of Appeals on Friday ruled against food and beverage company Dean Foods Co. in an antitrust case. The said lawsuit alleged that Dean Foods conspired to restrict competition for bottled milk in southeastern states in the US after its 2001 merger with Suiza Foods Corp.
Retail chain Grupo Elektra, controlled by Mexican billionaire Ricardo Salinas Pliego, is expected to close a deal to acquire video and video games sales and rental company Blockbuster Mexico next week.
Argentina's stock regulator CNV on Friday rejected Braskem's $1.35 per share bid to buy roughly 30% of the shares of plastics maker Solvay Indupa that are traded on the Buenos Aires bourse. CNV said that the offer was below Solvay Indupa's book value of $2.81 per share as of September.
Harbinger Capital Partners, controlled by American investor Philip Falcone, has asked the US Bankruptcy Court in Manhattan to reject Dish Network Corp.'s $2.2 billion takeover bid for bankrupt satellite firm LightSquared Inc.
A regulatory filing showed that Fortress Transportation and Infrastructure Investors intends to raise up to $100 million in its initial public offering in New York, Reuters reported.
