MGM Mirage has agreed to sell its 50 percent stake in one of Atlantic City, N.J.'s most prosperous casinos in order to resolve the state's concerns over the company's joint venture in Macau, China, with a Hong Kong businesswoman whose father reportedly has ties to Asian organized crime.
Dutch chemical company LyondellBasell Industries NV has announced that subsidiary Lyondell Chemical Co. will raise $3.25 billion through a first priority debt offering in order to finance its exit from bankruptcy.
A Louisiana public pension fund has filed a putative class action aiming to stop FirstEnergy Corp. from buying Allegheny Energy Inc. for $8.5 billion, saying the proposed transaction undervalues Allegheny.
Investment management, hedge fund and pension plan specialist Thomas A. Hickey has left his position as a partner at K&L Gates LLP to join the private equity and venture capital practice group at Foley & Lardner LLP.
Anheuser-Busch Cos. Inc. has slapped the Illinois Liquor Control Commission with a suit accusing the regulator of hindering its ability to compete with in-state beer producers by enforcing an act that prohibits the brewer from buying a local alcoholic beverage distributor.
Senators reviewing Comcast Corp.'s plan to buy a majority stake in NBC Universal Inc. for $37 billion from General Electric Co. told top federal regulators on Thursday that their scrutiny of the deal should focus on protecting the public without overstepping regulatory boundaries.
A bankruptcy judge has given the green light to LyondellBasell Industries AF SCA's $450 million deal with its unsecured creditors that resolves their objections to a settlement between the debtor and the lenders that financed the 2007 acquisition of Lyondell Chemical Co. by Basell Polyolefins, clearing the way for the Dutch chemical giant to leave Chapter 11.
Abbott Laboratories Inc. has said it will purchase Facet Biotech Inc. for $450 million as part of a plan to enhance its pharmaceutical pipeline and strengthen its business in immunology and oncology drugs.
A federal judge has granted certification to a group of Piedmont Office Realty Trust Inc. shareholders in a class action accusing the real estate investment trust and its executives of violating federal securities law by making material omissions in their advice over a pair of tender offers by Lex-Win Acquisition LLC.
Devon Energy Corp. has agreed to sell its assets in Brazil, the Gulf of Mexico and Azerbaijan to BP PLC for $7 billion and to buy into a joint venture to develop oil sands in Canada with the British oil giant for $500 million, the companies announced Thursday.
A federal appeals court has ruled that Ford Motor Co. did not misclassify longtime workers or deny them proper retirement benefits when it regained direct control over much of bankrupt auto parts maker Visteon Corp.
A federal judge has requested input from the Delaware Supreme Court in a so-called double derivative suit brought by former shareholders of Merrill Lynch & Co. Inc., asking whether plaintiffs must have held stock in both Merrill and buyer Bank of America Corp. to bring their claims.
Four groups of stakeholders are vying for the chance to reorganize bankrupt lender Fremont General Corp., setting the stage for a contentious confirmation showdown later this week. The prize that has attracted so much interest: tricky-to-recover tax benefits worth as much as $200 million.
A judge has recommended that the Illinois Commerce Commission reject Frontier Communications Corp.’s proposed $8.5 billion acquisition of Verizon Communications Inc.'s local line business in 14 states, saying the deal would likely lead to a drop in service quality.
Swiss pharmaceutical giant Novartis AG has revealed plans to launch a $5 billion bond market transaction in three increments, saying the proceeds would be primarily funneled toward its pending $28.1 billion acquisition of eye care company Alcon Inc.
K&L Gates LLP has boosted its London corporate practice by snatching Arnold & Porter LLP's Carl L. Liederman and Barlow Lyde & Gilbert LLP's Keith Snedden to join the firm as partners, continuing a recent spate of additions to its U.K. team.
The Talbots Inc. revealed Tuesday it had reached a stipulation in a shareholder suit over a deal to cut the retailer's debt by $330 million and buy back the stake majority stockholder Aeon (U.S.A.) Inc. has in the clothing chain, allowing the deal to go through.
A Massachusetts appeals court has affirmed a $4.1 million settlement for Targus Group International Inc. in the laptop accessories firm's breach of contract suit claiming Roundhouse Inc.'s founders failed to resolve claims that they inflated their company's value in selling it to Targus.
Sanofi-Aventis SA and Merck & Co. Inc. have announced that they will combine their animal health businesses, each valued at around $8 billion, with Sanofi-Aventis exercising a call-option agreement the companies signed when Merck shed its stake in a subsidiary to allay antitrust concerns over its merger with Schering-Plough Corp.
Bankrupt mall owner General Growth Properties Inc. said two of its largest creditors have offered to provide nearly $4 billion in new equity capital to facilitate the company's emergence from bankruptcy and allow it to pay off its unsecured creditors in full.