Alice's Feed
Dec 13, 2011
via DealZone

M & A wrap: WaMu eyes bankruptcy exit

Photo

Washington Mutual, the biggest bank to fail in U.S. history, said it reached a settlement in a dispute between shareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings.

Three former WaMu executives have agreed to settle a civil lawsuit, marking the latest setback for the government in a high-profile, financial-crisis-related case, according to the Wall Street Journal. The Deal Journal also has a roundup of financial crisis legal settlements.

Dec 12, 2011
via MediaFile

Tech wrap: Intel cuts outlook

Photo

Intel Corp warned that hard-disk drive supply shortages would hurt its current quarter revenue, the latest heavyweight in the PC industry to caution over the effects of flooding that has crippled factories in Thailand.

Amazon.com said it will release a software update for the Kindle Fire tablet to improve performance, make touch navigation easier and let users choose what items are displayed, according to Bloomberg.

Dec 12, 2011
via DealZone

M & A wrap: Who is Mark Pincus?

Photo

As Zynga Inc aims to list shares on the Nasdaq stock exchange this week in an initial public offering that will value the company at around $9 billion, investors eyeing the online games developer will be wise to understand its chief executive Mark Pincus.

Bloomberg uses an one-on-one meeting between Pincus and Facebook’s Mark Zuckerberg last year to show Pincus’s negotiating prowess.

Dec 8, 2011
via DealZone

M & A wrap: Corzine: I don’t know where the money is

Photo

Former MF Global chief Jon Corzine apologized to customers, employees and investors who have suffered because of the brokerage firm’s collapse, but said he does not know where missing customer money is. “Their plight weighs on my mind every day — every hour,” Corzine said in lengthy remarks prepared for delivery before a House panel.

New York Times’ Deal Professor has 10 questions for Corzine.

Alibaba Group is seeking up to $4 billion in debt financing, sources told Reuters, in a deal expected to help the Chinese e-commerce giant buy back a 40 percent stake in the company owned by Yahoo.

Dec 7, 2011
via MediaFile

Tech wrap: Another PR debacle for RIM

Photo

Research In Motion has unceremoniously dumped the “BBX” brand name it had chosen two months ago for its new BlackBerry operating system after a U.S. court embarrassed the beleaguered smartphone maker by slapping a temporary ban on its use.

AT&T plans to forge ahead with its deal to buy Deutsche Telekom’s U.S. wireless unit despite fierce regulatory opposition, and it has the financial resources to close the acquisition quickly, a top executive says.

Dec 7, 2011
via DealZone

M & A wrap: D.Boerse, NYSE mull spin-off

Photo

Deutsche Boerse and NYSE could spin off parts of their derivatives arms to create a third-party competitor as a way to allay anti-trust concerns about their $9 billion merger, two sources told Reuters.

J.C. Penney bought a 16.6 percent stake in Martha Stewart Living Omnimedia Inc in a $38.5 million deal.

Dec 6, 2011
via MediaFile

Tech wrap: Verizon to take on Netflix

Photo

Verizon Communications plans to launch a standalone service allowing customers to stream movies and television shows over the Web, in a fresh challenge to Netflix and the traditional cable TV business, according to several people briefed on the plan.

Wireless service provider Verizon Wireless said it was not blocking Google’s payments app, Google Wallet, on its latest smartphone, and said it was still in talks with Google about the service.

Dec 6, 2011
via DealZone

M & A wrap: MF Global workers sue Corzine

Photo

Past and present MF Global employees sued ex-CEO Jon Corzine and other executives over alleged misrepresentations they say destroyed the value of the company’s stock. Meanwhile, the WSJ reports that Corzine had rebuffed internal warnings on risks.

An independent panel issued a damning report on a $1.7 billion accounting scandal at Japan’s disgraced Olympus Corp, urging legal action against the executives responsible for the cover-up and the replacement of other board members who knew.

Dec 5, 2011
via MediaFile

Tech wrap: Facebook grabs Gowalla team

Photo

Facebook has hired the co-founders of Gowalla, one of the pioneering companies that developed the concept of “checking in” at real-world locations with mobile phones. “While Facebook isn’t acquiring the Gowalla service or technology, we’re sure that the inspiration behind Gowalla will make its way into Facebook over time,” Facebook says.

SAP’s $3.4 billion takeover of SuccessFactors will help it keep up with peers in the frenzied race for cloud-computing business, even if the price it paid is very high at first glance, analysts say.

Dec 5, 2011
via DealZone

M & A wrap: Olympus hid billion in losses

Photo

An investigative panel has found Japan’s disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but is likely to say there is no evidence of involvement by organized crime in the cover-up, a source says.

Lehman Brothers Holdings Inc.’s bankruptcy estate is close to naming a new board of directors to help finish winding down the defunct financial firm, the WSJ reports.