Touchstone Corp. and AIG Global Investment Group have scored a $56.4 million construction loan for their Seattle-area office development project, Holliday Fenoglio Fowler LP, which arranged the financing, announced on Monday.
Activist investor Sachem Head Capital Management LP has acquired a 10 percent stake in CDK Global Inc., which provides information technology services to car dealers, and will seek ways to improve the "undervalued" company, according to a Monday filing with the U.S. Securities and Exchange Commission.
Harbinger Capital Partners LLC can expect a decision later this week on its attempt to wipe out a $1.7 billion guaranty claim asserted by a group of secured lenders against the smaller half of LightSquared Inc., the judge handling the gnarled Chapter 11 case said Monday.
The federal bankruptcy watchdog piled criticism Monday onto a proposed settlement in the Variant Holding Co. LLC case that seeks to resolve a creditor's bid for an independent trustee to oversee the real estate company's Chapter 11, arguing the court can't just ignore the serious fraud allegations that preceded the agreement.
Hess Corp. agreed to sell its half of commodity trading unit Hess Energy Trading Company LLC to an affiliate of alternative asset manager Oaktree Capital Management LP, which will inject $500 million into HETCO after the acquisition to help it grow into new markets, the companies said Monday.
The Financial Industry Regulatory Authority on Monday said it has fined units of Bank of America Corp.’s Merrill Lynch business $6 million for allegedly violating short-selling rules, including allowing thousands of orders through their systems in 2008 that violated emergency bans on "naked" short sales.
Allergan Inc. on Sunday brushed off allegations that its executive masterminded a smear campaign to sour investors on wannabe buyer Valeant Pharmaceuticals International Inc., telling a California federal court the accusations have more to do with Valeant's public relations strategy than facts.
Valeant Pharmaceuticals International Inc. said Monday that it could raise its takeover offer for Allergan Inc. to $200 per share or more, and again urged the Botox maker to sidle up to the bargaining table for friendly deal talks.
The European Central Bank on Sunday said 25 of the euro zone’s largest banks failed a comprehensive test of their ability to withstand a severe economic shock, but indicated that many of the failing banks already had fixed their capital shortfalls.
Government witness Martin Liechti clashed with defense counsel Friday during the start of his cross-examination in the tax conspiracy trial of ex-UBS executive Raoul Weil, over the former senior Swiss banker's recollections of documents and meetings, Weil's actions on projects and their purported friendship.
The U.K.'s Serious Fraud Office is seeking an extra £26.5 million ($42.6 million) in funding to cover the cost of high-profile investigations, including a probe into alleged manipulation of the London Interbank Offered Rate, according to a government official Thursday.
Fannie Mae has agreed to pay $170 million to shareholders to settle a consolidated class action alleging the federal mortgage giant misrepresented its exposure to subprime loans in the runup to the 2008 mortgage crisis, according to documents filed in New York federal court Friday.
Momentive Performance Materials Inc. said Friday that it had effectuated the contested restructuring that wipes $3 billion in debt from its balance sheet, raising the odds that groups of senior and subordinated noteholders will be unable to upset the Chapter 11 plan on appeal.
The Municipal Securities Rulemaking Authority on Friday said it has won federal approval of its plan to hold newly regulated municipal advisers responsible for supervising their business, including by appointing chief compliance officers and having CEOs attest their firm has processes in place to meet the letter of the law.
Blank check company Hydra Industries Acquisition Corp. raised $80 million in a downsized initial public offering Friday after pricing 8 million units at $10 each, marking the third such company to go public since July.
A former mutual fund manager who pled guilty to insider trading and served as a key witness in the government’s probe of SAC Capital Advisors LP and several hedge fund managers was sentenced to two years’ probation on Friday.
A London Commercial Court judge on Thursday ruled that third-party litigation funders are liable for $7.7 million in indemnity costs that defendants Gulf Keystone and Texas Keystone incurred in a doomed $1.6 billion lawsuit over production rights for an Iraqi oil field.
Google Inc. has purchased several buildings at the Pacific Shores Center in Redwood City, California, from The Blackstone Group LP and Starwood Capital Group LLC for $585 million, according to a regulatory filing and spokespersons from two of the companies.
New issuers faced another bumpy week, with five companies holding off on making a public debut while others determined to move forward discounted their shares, highlighting the continued impact of overall market volatility fueled by concerns over dropping energy prices and economic woes in Europe, experts say.
Google Inc. is said to have bought a $585 million portfolio of Silicon Valley-area office buildings, while a Hines joint venture in Italy is reportedly raising $380 million to renovate two Venice hotels and Keller Williams NYC is said to have scooped up a brokerage boutique with a hefty Manhattan rental building portfolio.