Elan proceeds with its US$1 billion buyback share program. Elan is expected to undertake the planned US$1 billion share buyback by next week. The Irish pharmaceutical firm's move may undermine the takeover offer by US fund firm Royalty Pharma.
Tags: Shares
Aston Martin Owner Sells Bahrain Bank Stake
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
Tiger Global Management Purchases Cobone.com
Tiger Global buys Cobone. The largest daily deal company in the Middle East, Cobone. com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Dubal and Sinoway Carbon Energy Holdings Partnership
Dubal and Sinoway Forges Partnership. It was reported Saturday that Dubal or Dubai Aluminium has purchased a twenty percent share in a joint venture project in China.
Chesapeake Sues BNY Mellon
Chesapeake files suit against BNY Mellon. Chesapeake Energy Corp has gone to court to sue its trustee Bank of New York Mellon Corp seeking redemption of more than US$1.
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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.
Based on a TV news report, Jet Airways shares jumped as Etihad supposedly would purchase 13% interest.
Shareholders respond to call for more funds for Talvivaara. Talvivaara, the nickel mining company from Finland has asked its shareholders for Eur261 million to pay for the cost of keeping the mine running in light of its penalties from a waste water leak incident.
The interest of CVC Capital Partners is being sold in the market drawing much interest. CVC Capital Partners, who is backed up by Och-Ziff Capital Management Group LLC and Schroders, the asset manager, has raised US$200 million in pledges.
Sharp is lining up share sales and selling off assets to help pay off its bond issue due on September.
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.
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.
