Hess, in a move to address criticisms, splits the position of CEO from Chairman. In a bold move, Hess Corp would be splitting the roles of chairman and chief executive officer in its annual shareholders meeting next week.
North America
Two Directors Respond to Proxy Advisories in JP Morgan
Two directors issued a letter in response to the recommendations made by proxy advisory firms on the ceo-chairman split issue as well as removal of some of the JP Morgan directors from the board.
Actavis and Warner Chilcott in Discussions
Actavis and Warner Chilcott are exploring options for a merger after Actavis failed to merge with Valeant.
Proxy Advisory Firms at Odds over Sprint Bid for Clearwire
ISS and Glass Lewis provide opposing advisories to Clearwire shareholders regarding the takeover bid of Sprint-Nextel.
Icahn Offers Own Money in Dell Bid
Icahn, in a bid of bravado, offers a couple of billion of own money for Dell bid. Billionaire investor Carl Icahn, who has just informed the Dell board of an intention to bid for the company with Southeastern Asset Management, told Reuters that he is willing to contribute a couple of billion of dollars in order to finance a bridge loan worth US$5.
Latest News
True Religion Apparel sold to TowerBrook Capital. In an announcement today, True Religion Apparel, Inc disclosed that it has entered into a merger agreement with TowerBrook Capital Partners LP for US$835 million.
Sprouts Farmers supported by Apollo through IPO According to a Reuters news report, organic grocer Sprouts Farmers Markets LLC is financially supported by Apollo Global Management LLC, a private equity firm.
In a watershed moment, Warburg Pincus raises US$11.2 billion. One of the largest private equity funds raised since the 2007 crisis has been put together by Warburg Pincus LLC.
Icahn and Southeastern Asset Management sent a letter to indicate interest in bidding for the world's third largest PC maker.
Ares purchases AREA Property and undertakes management shakeup. Ares Management LLC disclosed through an announcement that it inked a final contract to purchase AREA Property Partners, LP.
Scale Venture Partners raise US$300 million. Scale Venture Partners announced today that it was able to secure US$300 million in pledges at the conclusion of ScaleVP IV LP, going beyond the actual amount it was aiming to raise.
Lehman may sell off US$14 billion in unsecured claims to raise funds to pay off debts and other claims.
Dell Corp responds to the Icahn-Southeastern Asset Management offer. On Friday, Dell Inc. issued its reply on the suggested alternative presented by Southeastern Asset Management and Carl Icahn.
uParts signs a US$2 million financing deal from GRP and Fraser uParts, Inc disclosed the conclusion of its Series A investment round, headed by GRP Partners and Fraser McCombs Capital plus the participation of other prominent personalities in the automotive industry.
