Okada quits ahead of ouster move. Kazuo Okada resigned from Wynn Resorts Ltd not waiting for the results of the board of directors' vote. The Japanese billionaire is actually facing ouster by the board.
Investors
LBO Protection Demand by US Bond Investors
Bond investors seek new options during leveraged buyouts. The increasing number of large leveraged buyouts or LBOs is making many investment-grade debt investors nervous, calling out the US government to institute more protection be given them in light of current developments.
Gardner Denver Shareholders to Discuss KKR's $3.7 billion Offer
KKR has offered $3.7 billion for industrial machinery maker. Top shareholders of Gardner Denver Inc. are scheduled to meet discusses $3. 7 billion offer from private equity firm KKR & Co.
Gigante Makes Offer on Office Depot Mexico
Grupo Gigante offers to purchase other half of Office Depot Mexico. Grupo Gigante, the Mexican retail giant had formally sent an offer of 8. 78 billion pesos or US$687.
Capitalization Boost Expected with CDS books sale
Banks are now cleaning the vestiges of the 2008 market crash by dumping CDS instruments. In a house-cleaning move, several major banking institutions are trying to rid itself of the credit portfolios that had been the major cause of the 2008 global financial crisis.
Latest News
Ross Smith Asset Management Inc. acquires control over common shares of C.A. Bancorp Inc. Ross Smith Asset Management Inc. announces that the investment funds it manages have acquired 3,000 common shares of C.
The following bids, mergers, acquisitions and disposals were reported on Tuesday The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Tuesday: - Capital One Financial Corp said it agreed to sell to Citigroup Inc its $7 billion portfolio of private label and co-branded credit card accounts linked to electronics retailer Best Buy Co Inc.
Itochu today paid Dole a non-refundable cash deposit of $200 million to be applied toward the purchase price
Renesas is restructuring and will sell shares of stock to improve its overall position. Shareholders of Renesas Electronics Corp had passed a resolution to approve a sale plan amounting to 150 billion yen.
New agreements forged to complete Utica Joint Venture. The Utica Joint Venture, comprising of MarkWest Energy Partners LP and the Energy and Minerals Group announced the formalization of an Amended and Restarted Limited Liability Company Agreement for MarkWest Utica EMG LLC.
REIT purchases sprawling Ontario property for expansion. True North Apartment Real Estate Investment Trust has announced that it would acquire four properties in the Ontario area for a total purchase price of US$25.
Petroleum company purchased for US$4.3 billion. A merger agreement was settled between Berry Petroleum Company, LINN Energy LLC and LinnCo LLC. LINN Energy and LinnCo would purchase all of Berry's current outstanding shares totaling US$4.
Alvarion sells carrier licensed division to rival Telrad. Alvarion has recently entered into an agreement with Telrad networks for the acquisition of Alvarion's carrier licensed division.
Softbank would turn to bond issue to fund Sprint Nextel purchase stake. Japanese wireless carrier Softbank Corp. has agreed to purchase a US$20 billion stake in Sprint Nextel Corp.
