LightSquared Inc seemed to have marked a small milestone towards getting out of bankruptcy when on Friday, it told a state court that it has been working with its creditors regarding a plan to restructure the company's assets.
Investors
Rhode Island to pull out pension fund from Daniel Loeb's Third Point
Activist investor Daniel Loeb's Third Point Llc can no longer count on Rhode Island as one of its clients after the state's Investment Commission voted to pull out its investment in the hedge fund, Reuters reported.
CORRECTED-Threat of drought and increasing population prompt water tech to slowly come out of the shadows
Water technology investments have not been popular, but the threat of drought and concerns about a fast-growing population has started a slow change in this area, Gigaom reported.
M&A activity gets expensive, busy in luxury industry
High-end luxury brands might be able to demand their preferred deal prices as Asian, Middle Eastern and private equity buyers scramble to acquire a share in the profitable luxury goods market.
Lone Star taps BoFA, Rothschild for IKB sale as Euro stress test pressures firm
According to Reuters, Lone Star is itching to exit from German bank IKB as European Central Bank and the European Banking Authority will begin to run mandatory health tests in banks this year.
Latest News
Apple Inc is facing claims amounting to $840 million from state attorneys general and plaintiffs, which included consumers, in lawsuits related to the pricing of electronic books, Bloomberg reported.
Technology giant Apple Inc is said to be making a play into the mobile medical health space as evidenced by its development of the iWatch and other products, CNET reported.
The mergers and acquisitions activity in the Southeastern portion of the US rose 17% last year, according to data from Mergermarket Group news service, The Tennessean reported.
Sunnyvale, US-based GPS app maker Telenav acquired Berlin, Germany-based navigation startup Skobbler in a deal valued at approximately $24 million in a combination of cash and common stock.
Interest in lower end market deals in Europe by foreign investors had been seen growing, according to the latest data released by Mergermarket. Almost a third of the 169 deals involving foreign investors seen last year were made in the UK, with Germany and Spain a distant second and third.
Northern England, US-based milk processor Oakhurst Dairy was sold to Kansas City, Missouri-based dairy farmer-owned cooperative Dairy Farmers of America (DFA) for an undisclosed sum because of the absence of a suitable person to run he business.
A regulatory filing with the US Securities and Exchange Commission showed that William Ackman's Pershing Square Capital Management offloaded 7.3 million shares of liquor maker Beam Inc this week, Reuters reported.
Independent non-profit economic development organization Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) invested $2 million in 11 early-stage companies from the technology and life science sectors.
Nanomix Inc, a California-based nanotechnology firm that develops next generation point-of-care diagnostic tests, received $12 million in private funding from "a strategic corporate partner and existing investors."
