More and more banks are incensed with deals done privately instead of the normal auction process conducted.
Institutional investors
Vinik Asset Management to Close Shop
Vinik Asset Management is set to wind up its business, according to a report from the Wall Street Journal.
Dish Network Offer Cut Up
Dish Network bid cut up by Softbank CEO. Softbank's list of achievements in order to acquire Sprint Nextel just got shorter when it was allowed by the Securities and Exchange Commission to send out proxy materials to its shareholders regarding the upcoming vote for the said buyout transaction.
New Board Elected to Stillwater Mining
The new board elected for Stillwater Mining comprise nominees from the Clinton Group, an activist investor in the company.
Buffett Announces Berkshire Record Earnings
Berkshire Hathaway reports record earnings for its shareholders in meeting with Warren Buffett. In the announcement during its shareholders meeting held at Omaha, Nebraska last Friday, Warren Buffett said that quarterly profit rose nearly 51% on solid performance of its investments in insurance and other businesses, together with revenues from derivatives.
Latest News
Mike Brown did the work and now has US$33 million for Bowery Capital. Mike Brown has spent the past year making trips to small rural towns and has spent many weeks in cities from the west to the east.
Plexus Capital raises US$150 million with an equal counterpart from the Small Business Association to create Plexus Fund III worth US$300 million.
BC Partners offered over US$1.3 billion for Allflex. On Friday, Electra Partners announced that BC Partners offered US$1. 3 billion to purchase Allflex.
BRP, the makers of snowmobiles and watercraft, is listing for an IPO in Toronto, Canada. The Canadian builder of Ski-Doo snowmobiles, watercraft and ATVs, BRP Inc, is aiming to raise Can$262 million or US$259 million through sale of its shares during an initial public offer.
From Omaha, Nebraska, Warren Buffett said he won't sell IBM shares despite missed earnings expectations for the quarter.
30% of Kelda Group is to be sold off by its owners, Infracapital and Citi infrastructure. The sale of a 30% stake in Kelda Group jointly owned by Infracapital and Citi Infrastructure would get a windfall of nearly GBP2.
Berkshire lowers interest in Tesco from 5.08% to 4.98%. Berkshire Hathaway, the firm of billionaire investor Warren Buffet, has reduced its shareholdings in Tesco Plc to 4.
ISS endorses the directors nominated by Elliot Management. The shareholders of Hess Corp should elect all five directors nominated by Elliot Management Corp for its May 16 annual meeting.
Permira planning to sell 10% of shareholdings in Hugo Boss. Hugo Boss share values dropped to its lowest in eight months in trading in Frankfurt, Germany after its majority ownership, Permira Advisers LLP said it is planning to sell off a stake in the German luxury brand clothier.
