Chesapeake needs to raise cash, chooses to sell off properties. The US natural gas producer Chesapeake Energy Corp would need to sell as much as US$7billion in order to make up for a projected cash funding issue.
North America
Chinese Investors Purchase Stake in GM Building
Zhang led investment group buying stake in GM building in Manhattan. A consortium of investors from China is in talks to purchase a 40% stake in General Motors building located in Manhattan.
Dinan bets JC Penney would still continue ailing performance
Dinan's assessment makes future of JC Penney less than positive. James Dinan, the head of York Capital Management, is betting that JC Penney Corp would continue its poor performance of the company.
Venture firm CMEA sued for sexual harassment, retaliation
Three executive assistants are suing venture firm CMEA and one of its former partners for harassment and retaliation, marking the third lawsuit in less than a year alleging unfair treatment of women in Silicon Valley's clubby world of venture capital.
Privately Backed Mine Fund to be Set
Xstrata CEO to set up private mining fund when he leaves company after Glencore takeover. After Glencore International takes over Xstrata Plc, former top management of Xstrata are planning their next move.
Latest News
Smithfields Food split recommended through letter by shareholder. One of the biggest shareholders in Smithfield Foods Inc has formally recommended to the board to split America's largest hog producer into three separate distinct units.
CNOOC to guarantee Nexen bond issue. Nexen is seeking to amend its current terms of debt with holders of almost US$4 billion worth in bonds. The amendments seek to remove some of the conditionalities as well as add CNOOC as guarantor of the bond issue.
OneWest, the bank from bankrupt IndyMac, is now interested in growth plans either through IPO or through outright sale.
Chrsyler asks for IPO or buyout options from banks. Chrysler has invited banks to offer pitches scheduled for next month for IPO scenarios and results according to four individuals familiar with the decision.
Facebook appoints Chancellor of UCSF Susan Desmond-Hellmann to its board. Facebook Inc has appointed an old hand to become part of its board of directors.
Appeals by hedge funds against Porsche actions withdrawn in the US but case continues in Germany. In a recent move, a consortium of hedge funds has dropped their appeal in US courts but continue their case in Germany.
Icahn and Dell in opposing sides regarding the privatization of Dell Company. Carl Icahn has joined calls for Dell to pay a special dividend totaling $15.
CDW to offer IPO after its takeover by private equity firms. (Correction in first paragraph to US$750 million. ) In a complicated move, CDW, the technology products maker taken over by Madison Dearborn Partners LLC and Providence Equity LLC for the amount of US$7.
Iger to continue as Disney's Chairman-CEO. In an unprecedented move, the investors of Walt Disney Co have rejected calls by proxy advisors to split the top jobs currently held by Chairman and CEP Robert Iger.
