Warner Music Nears a Sale to Access
By ANDREW ROSS SORKIN and MICHAEL J. DE LA MERCEDWarner 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.
Shareholders Back Actelion’s Board
By CHRIS V. NICHOLSONElliott Advisors’ efforts to remake the board of Actelion Pharmaceuticals were scuttled, as investors sided with management at the biotechnology company’s annual meeting on Thursday.
UBS Settles Fraud Cases Over Munis |
UBS, the Swiss banking giant, was accused by the federal and state governments of rigging bids in a municipal bond derivatives market, The New York Times reports. Read More »
ConAgra May Have to Go Hostile After Ralcorp Rejects Offer
The bid made on Wednesday is 32 percent above Ralcorp’s stock price in March, when ConAgra made its first takeover move.
Citigroup Hires UBS Banker
Kevin Cox, formerly head of Americas investment banking at UBS, is joining Citigroup as co-chairman of global industrials banking.
Goldman Brushes Off the Gadfly
Some banks are paying $5,000 and more for Evelyn Y. Davis’s newsletters, but Goldman Sachs has canceled its $7,200 subscription.
Finding Long-Term Value in Renren
David Chao — a general partner at DCM, a major Renren shareholder — talks about why his firm is holding its stake in the Facebook of China, the long-term value of the social networking site and the recent accounting questions at the company.
At Galleon, Calm in the Face of Market Turmoil
A wiretapped phone call between Raj Rajaratnam and a trader provides a window into the unique lingo of a Wall Street trading floor and the calm before the Lehman Brothers storm.
Greater Power Over Wall Street, Left Unexamined
The Federal Reserve is the steward of the economy, but it also has to regulate the financial system, a responsibility it has yet to discuss publicly.
On Capitol Hill, Regulators Plead for More Money
Gary Gensler, the C.F.T.C.’s chairman, and Mary L. Schapiro, the S.E.C.’s chairwoman, say they need hundreds of millions of dollars to prevent another financial crisis.
Goldman Said to Be ‘Freaked Out’ About Volcker Rule |
Goldman Sachs is making a big lobbying push aimed at shaping the regulations defining the Volcker rule, Lauren Tara LaCapra of Reuters reports. One Goldman lobbyist quoted says the firm is “totally freaked out about Volcker.”Read more »
ConAgra Deals in the Show-Me State
Ralcorp is incorporated and based in Missouri, a fact that could make ConAgra’s takeover attempt tougher, the Deal Professor says.