Asset Management

  • March 9, 2015

    Hedge Fund's AIA Attack Should Have Biotech Cos. Wary

    A hedge fund's attempt to invalidate Acorda Therapeutics Inc. drug patents under the America Invents Act as an investment strategy to lower the company's stock price should have biotechnology companies on alert for similar challenges, attorneys say, although the tactic makes financial sense only in rare cases.

  • March 9, 2015

    Starboard Continues Push For 'Major Overhaul' At Yahoo

    Starboard Value LP, the activist investor needling at California-based Yahoo Inc. for months, pushed the Web giant again on Monday to pursue a “major overhaul,” including the spinoff of its assets in Japan and a share buyback program worth up to $4 billion.

  • March 9, 2015

    REIT Makes $4.1B Offer To Buy Pinnacle's Real Estate Assets

    Gaming and Leisure Properties Inc. revealed Monday that it has offered to buy the real estate assets of casino operator Pinnacle Entertainment Inc. for roughly $4.1 billion including debt, saying the deal would benefit Pinnacle shareholders while creating the world's third-largest real estate investment trust.

  • March 9, 2015

    Rajaratnam Tells 2nd Circ. Newman Unhinges $93M SEC Fine

    Imprisoned Galleon Group founder Raj Rajaratnam on Friday became the latest insider trading defendant to challenge a judgment in light of the Second Circuit’s decision in U.S. v. Newman, saying the ruling undermines a nearly $93 million U.S. Securities and Exchange Commission sanction imposed against him.

  • March 9, 2015

    Mall Magnate Simon Offers $16B For Rival Macerich

    Simon Property Group Inc. on Monday leveled a $16 billion cash-and-stock offer for California-based real estate investment trust Macerich Co., potentially setting up a deal that would bring together two of the biggest shopping mall owners in the U.S.

  • March 6, 2015

    Judge Won't DQ Sidley Austin From Tuna Antitrust Row

    A New York federal judge on Friday rejected a bid to disqualify Sidley Austin LLP from representing Amerra Capital Management LLC in a contract and antitrust row over a botched seafood joint venture, but said the opinion could not be published immediately. 

  • March 6, 2015

    Dish Chair Seeks Late Appeal As LightSquared Trial Looms

    Dish Network Corp. Chairman Charlie Ergen on Friday asked a New York federal court for leave to appeal an order that excluded certain testimony from an impending trial on LightSquared Inc.’s strategy to emerge from bankruptcy protection, saying the last minute ban has left him sidelined.

  • March 6, 2015

    LightSquared’s Ch. 11 Exit Depends On The Unknowable

    The three-year scramble for control of LightSquared Inc. will come to a head on Monday when the wireless startup pushes to exit bankruptcy protection, with billions of dollars in investments riding on the tricky question of how to value a business with a wholly uncertain future.

  • March 6, 2015

    Rennert Ordered To Trial In $97M RG Steel Pension Fight

    A New York federal judge on Friday ordered a trial in the Pension Benefit Guaranty Corp.’s $97 million lawsuit accusing billionaire industrialist Ira Rennert’s private equity firm of evading pension liabilities in the bankruptcy of its portfolio company RG Steel LLC.

  • March 6, 2015

    Brookfield Gets $208M From Wells Fargo For London Purchase

    Brookfield Property Partners LP has scored a £138 million ($207.5 million) loan from Wells Fargo Co. for its recent purchase of an office property in London, Wells Fargo announced on Friday.

  • March 6, 2015

    Gupta Moves To Vacate Sentence Under Newman

    Former Goldman Sachs Group Inc. director Rajat Gupta asked a New York federal court on Thursday to vacate his two-year prison sentence and set aside his conviction, arguing that the premise of the government’s case and its jury instructions were rejected in the Second Circuit’s U.S. v. Newman decision.

  • March 6, 2015

    Claims Of JPMorgan 'Thievery,' Madoff Ties Appear NY-Bound

    A New Jersey federal class action claiming a “culture of thievery” inside JPMorgan Chase & Co. led the bank to countenance Bernie Madoff's crimes appears headed for Manhattan, after a magistrate's finding that the New York court has valuable “expertise and familiarity” with the giant Ponzi scheme's facts.

  • March 6, 2015

    Leaner Investor Suit Over Tile Shop's China Ties Moves Ahead

    A Minnesota federal judge has pared a shareholder class action against a high-end tile retailer for allegedly misleading investors about the company’s intertwined professional and personal relationships with an exporter and a supplier in China.

  • March 6, 2015

    Permira Unit Sells $122M Stake In UK's Just Retirement

    A subsidiary of European private equity giant Permira said Friday it would hack down its controlling interest in British annuity provider Just Retirement Group PLC through a stock sale worth $122 million.

  • March 6, 2015

    Goodwin, Hogan Lovells Guide Retail REIT’s $250M Note Sale

    With plans to pay down some of its borrowings, real estate investment trust Retail Properties of America Inc. has tapped Goodwin Procter LLP to guide its $250 million public offering of senior unsecured notes underwritten by institutions advised by Hogan Lovells.

  • March 6, 2015

    NII Holdouts Make Peace With $4.35B Restructuring

    Latin America-focused wireless provider NII Holdings Inc. has a new strategy in hand for a harmonious exit from Chapter 11, announcing consensus on Friday with senior bondholders that previously opposed a subordinated creditor faction’s $4.35 billion debt-reduction plan.

  • March 6, 2015

    CPPIB Drops $1.96B In First-Ever Student Housing Investment

    The Canada Pension Plan Investment Board has agreed to pay roughly £1.1 billion ($1.96 billion) for the Brandeaux Student Accommodation Fund's U.K. student accommodation portfolio, the companies said Friday, marking CPPIB's first foray into the world of student housing.

  • March 6, 2015

    Real Estate Rumor Mill: Blackstone, CBRE, Fried Frank

    Blackstone Group LP is reportedly in talks to buy Chicago's Willis Tower for $1.5 billion, while CBRE Group Inc. is said to be considering the acquisition of Johnson Controls Inc. property management unit, and Fried Frank Harris Shriver & Jacobson LLP’s Manhattan offices may relocate to its client and landlord's new Hudson Yards development project.

  • March 5, 2015

    NFL's Gore Takes $1,000 Settlement From BB&T In $53M Case

    National Football League running back Frank Gore has accepted a $1,000 settlement offer from Branch Banking & Trust Co., well under the millions he individually sought in a $53 million suit he and other players brought against the bank for allegedly unauthorized transactions.

  • March 5, 2015

    Solar Capital Plans $1.25B Stock Offering Across Two Units

    Solar Capital Ltd., a Maryland-based investment company, said Thursday in two U.S. Securities and Exchange Commission filings that it will offer $1 billion in common stock and that its debt-buying unit will offer $250 million in stock as it plans to make investments in midsize companies.