Don't expect Carl Icahn to be grabbing any first bid that comes his way--especially if it's Bristol-Myers Squibb's paltry $4.5 billion for ImClone, where the renegade investor now holds sway as chairman of the board. The company is studying the offer, but says the bid "substantially undervalues" its worth. And [...]
VentureBeat |
August 5th, 2008 |
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Brace yourself ladies and gentleman, we may have a hanging chad situation emerging out of last week's Yahoo shareholder meeting. The meeting was largely uneventful as Yahoo cut a deal with investor Carl Icahn days before to diffuse his hostile takeover attempt (and he didn't even show up). But there [...]
CEO Jerry Yang looks pleased in this company photo (Yahoo.com) After weeks of watching the likes of Carl Icahn, T. Boone Pickens and others treat Yahoo like a punching bag, executives at the Internet giant hit back Friday, with chairman of the board Roy Bostock noting that the company still [...]
Rob Curran of Dow Jones Newswires has this report one hedge fund manager's guide to protecting profits. Hedge fund manager Jeffrey Pavlik will take the ant over the grasshopper every time. Mr. Pavlik says the best way to survive shocks like the credit-crunch-inspired bear market is to sock away portfolio [...]
VC Circle |
August 5th, 2008 |
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HDFC Property Ventures, the real estate investment arm of the bank, is picking up a stake in South India's largest central business district mall in Banglore for $25 million. The 6-lakh sq ft Nitesh Mall, being developed by Nitesh Estates, has an estimated value Rs 300 crore ($75 million). HDFC [...]
Crispin Odey, a leading hedge fund manager known as one half of the "Posh and Becks" of the City, has paid himself £28m after his fund made £55m by betting against Britain's biggest banks.[...]
After months of falling financial stocks and rising oil prices, July's sudden turnaround was a welcome relief to average investors. Not so for hedge funds - including subprime-mortgage superstar Phil Falcone. That's because a number of[...]
Imclone's board said Bristol-Myers Squibb's $60-per-share takeover bid appeared too low but added that it would still study the unsolicited offer. Investor Carl Icahn, chairman of Imclone, said the bid "greatly undervalues" the company[...]
CNBC |
August 5th, 2008 |
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Credit market worries, deterioration of automakers and hedge funds poor performance, with CNBC's David Faber Watch Video MEDIA:VIDEOPermalink[...]
NYT Dealbook |
August 5th, 2008 |
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You win some, you lose some. Just a few days after Carl Icahn doubled his money - on paper, at least - through his holdings in ImClone Systems, the billionaire financier was stung by a bankruptcy filing at WCI Communities. WCI, a residential homebuilder based in Florida, filed for Chapter [...]
NYT Dealbook |
August 5th, 2008 |
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Steve & Barry's, the troubled low-cost retailer that is a mainstay of American malls, said on Monday that it has agreed to a $163 million takeover offer by Bay Harbour Management, a hedge fund specializing in distressed companies. The bid is a "stalking horse" offer, or the first official bid, [...]
Citigroup Inc. is closing a $400 million convertible arbitrage fund, the final step in winding down its $2 billion Tribeca Global Investments group, people familiar with the plans said. Tribeca Convertible LP has been hurt by investor redemptions, according to the people, who declined to be identified because the decision [...]
In the world of hedge funds, it is harder to hide from the financial crunch. Since the crunch began, these elite money managers have generated strong returns by focusing on areas such as commodities, emerging-market stocks or betting against troubled banks. But as hedge funds as a group look set [...]
Barrons |
August 3rd, 2008 |
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Yahoo (YHOO) is holding its annual meeting today, and with the threat of Carl Icahn's dissident board slate removed, all that's left is some shouting. Here in a nutshell is what they will be shouting about: Price of Yahoo's shares on January 31, before the Microsoft (MSFT) $31 bid: $19.18. [...]
Top tier hedge fund client seeks an exceptional Research candidate.[...]
MN-Minneapolis, Minneapolis-based hedge fund looking for an operations clerk with a minimum of 2 years of fund experience or in the investment industry required. Fixed income or derivatives experience a plus. Person w[...]
The Credit Risk Management and Advisory Dept is seeking candidates to join its Risk Analytics Group (RAG). RAG is responsible for developing quantitative pricing and risk management models for credit risk and hedge fund risk.[...]
New York hedge fund seeks developer/ execution trader for European trading desk.[...]
