Warner Music Is Sold, Ending a Long Auction
The Russian-born billionaire Len Blavatnik is buying Warner Music and he may eventually seek to merge the record label with the EMI Group.
How Well Did Warner Music’s Investors Do?
The private equity investors are said to be expecting a return of about two times their initial investment from sale of Warner.
A.I.G.’s 1st-Quarter Profit Tumbles 85%
The American International Group recorded charges tied to the Japan earthquake in March and to restructuring its government bailout that weighed heavily on its financial results.
Warner Music Nears a Sale to Access
Warner Music, one of the big four music record companies, is near a sale to the Russian-born industrial magnate Len Blavatnik for more than $3 billion.
K.K.R. Quarterly Profit Rises 10%
Kohlberg Kravis Roberts reported first-quarter earnings of $742.5 million, as private equity firms continued to benefit from the economic recovery.
NYSE Euronext Chief Isn’t Fazed by Hostile Nasdaq Bid
Duncan Niederauer said he wasn’t worried by Nasdaq and ICE taking their rejected takeover bid directly to his shareholders.
Private Equity Titans Find Common Ground
At the Milken Institute Global Conference 2011, four of the biggest names in the industry — David Rubenstein of the Carlyle Group, Jonathan Nelson of Providence Equity Partners, David Bonderman of TPG Capital and Leon Black of Apollo Global Management — agreed on several opportunities, including China.
Nasdaq OMX and ICE Go Hostile in NYSE Bid
Nasdaq OMX and IntercontinentalExchange said they would take their $11 billion offer for NYSE Euronext directly to shareholders after twice being rebuffed.
Buffett Eager to Move On After Sokol Affair
Warren E. Buffett said he planned no major changes to Berkshire’s management practices, which largely leave the executives of its subsidiaries to operate independently.
Sokol Says Buffett Is ‘Transparently Scapegoating’
Shortly after Warren E. Buffett criticized David L. Sokol for violating company policy, the former Berkshire Hathaway executive again fought back and argued that he did nothing wrong.
Buffett Takes Sharper Tone on Sokol’s Actions
Warren E. Buffett called David L. Sokol’s actions “inexplicable and inexcusable” during Berkshire Hathaway’s annual shareholders meeting in Omaha.
Live Blogging the Berkshire Meeting
DealBook live-blogged the Berkshire Hathaway annual shareholder meeting, where Warren E. Buffett criticized actions by his former lieutenant, David Sokol as “inexcusable and inexplicable.”
Simpson Thacher to Add Hong Kong Law Practice |
Simpson Thacher & Bartlett, the American law firm, plans to add a Hong Kong law practice to supplement its existing operations there later this year. The firm has hired Celia Lam from Linklaters and Christopher Wong from Freshfields Bruckhaus Deringer as partners to lead the practice.
Guessing Game Builds Over Buffett’s Next Deal
Some analysts and investors say the biggest damage from the Sokol affair may be to Warren Buffett’s reputation, but it is unlikely to deter deal-making at Berkshire Hathaway.
NYSE Euronext Gets Pressure From Investors
Despite presenting rosier-than-expected first-quarter results, NYSE Euronext management faced tough questions from shareholders about its merger plans.
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