Nadia's Feed
Jul 17, 2014

Alibaba now eyes September for U.S. mega-IPO: source

NEW YORK (Reuters) – Alibaba Group Holding Inc has pushed its highly anticipated IPO until after the September Labor Day holiday, a source with knowledge of the matter said, as the Chinese online retail company works through the complex process of launching what could the largest-ever U.S. tech debut.

Alibaba, which had targeted an August float, now plans to begin its investor roadshow and price its shares in September, the source said on condition of anonymity because the IPO process was private.

Jul 15, 2014

HP interim Chairman Ralph Whitworth resigns to focus on health

By Supantha Mukherjee and Nadia Damouni

(Reuters) – Hewlett-Packard Co interim chairman and activist investor Ralph Whitworth will step down on Wednesday to focus on his health, the latest top-level departure from the computer maker as it struggles to return to consistent growth.

Whitworth, who will also take a leave of absence from his hedge fund Relational Investors LLC, has stood in as chairman of the world’s largest personal computer maker since Ray Lane relinquished that post in April 2013.

Jul 15, 2014

HP’s interim chair Whitworth resigns to focus on health

July 15 (Reuters) – Hewlett-Packard Co interim
chairman and activist investor Ralph Whitworth will step down on
Wednesday to focus on his health, the latest top-level departure
from the computer maker as it struggles to return to consistent
growth.

Whitworth, who will also take a leave of absence from his
hedge fund Relational Investors LLC, has stood in as chairman of
the world’s largest personal computer maker since Ray Lane
relinquished that post in April 2013.

Jul 3, 2014

Exclusive: Ousted American Apparel CEO hands over stake to hedge fund

By Nadia Damouni and Jeffrey Dastin

(Reuters) – Ousted American Apparel Inc (APP.A: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Dov Charney has handed over his entire stake and voting rights in the struggling retailer to Standard General LP, enabling the fund to negotiate directly with the independent directors over the company’s future, two sources close to the matter said on Wednesday.

Earlier Standard General had loaned its American Apparel shares to Charney, according to regulatory documents, allowing him to boost his stake in the company from about 27 percent to 43 percent. Charney had hoped to gain majority control, but American Apparel countered with an anti-takeover plan that prompted him to change his strategy.

Jun 27, 2014

Exclusive: HP to settle suits over Autonomy deal; make claim against ex-CEO Lynch

By Nadia Damouni, Paul Sandle and Casey Sullivan

(Reuters) – Hewlett-Packard Co and attorneys representing shareholders have agreed to settle litigation over its troubled $11.1 billion acquisition of British software company Autonomy Corp, according to a source familiar with the negotiations.

Under the terms of the settlement, involving three lawsuits, the attorneys for the shareholders have agreed to drop all claims against HP’s current and former executives, including CEO Meg Whitman, board members and advisers to the company, the source said.

Jun 27, 2014

HP to settle suits over Autonomy deal; make claim against ex-CEO Lynch

June 27 (Reuters) – Hewlett-Packard Co and attorneys
representing shareholders have agreed to settle litigation over
its troubled $11.1 billion acquisition of British software
company Autonomy Corp, according to a source familiar with the
negotiations.

Under the terms of the settlement, involving three lawsuits,
the attorneys for the shareholders have agreed to drop all
claims against HP’s current and former executives, including CEO
Meg Whitman, board members and advisers to the company, the
source said.

Jun 25, 2014

Exclusive: Paulson & Co amasses large stake in Allergan: sources

New York (Reuters) – Hedge fund Paulson & Co has amassed a large stake in Allergan Inc AGN.N of more than 6 million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc VRX.TO, people familiar with the matter said on Wednesday.

The position is expected to make the prominent U.S. hedge fund, led by John Paulson, one of the top 10 to 15 holders of Allergan, according to Thomson Reuters shareholder data as of March 31.

Jun 25, 2014

Paulson & Co amasses large stake in Allergan: sources

New York, June 25 (Reuters) – Hedge fund Paulson & Co has
amassed a large stake in Allergan Inc of more than 6
million shares and supports a deal between the Botox maker and
Valeant Pharmaceuticals Inc, people familiar with the
matter said on Wednesday.

The position is expected to make the prominent U.S. hedge
fund, led by John Paulson, one of the top 10 to 15 holders of
Allergan, according to Thomson Reuters shareholder data as of
March 31.

Jun 23, 2014

American Apparel board rejects demand to meet Charney: source

By Nadia Damouni and Jeffrey Dastin

(Reuters) – The independent directors of maverick retailer American Apparel Inc have rejected a demand to meet and reinstate ousted CEO Dov Charney on Monday, a source close to the matter said.

The board last week stripped Charney of his titles of chief executive, chairman and president. Initially known for insisting on manufacturing clothing in the United States, Charney eventually became notorious for conduct like attending meetings in his underwear.

Jun 21, 2014

Exclusive: American Apparel finds CEO misused funds; helped discredit employee – source

NEW YORK (Reuters) – An internal investigation at American Apparel Inc has found that its CEO Dov Charney violated company policies, ranging from misusing company funds to failing to stop the discrediting of at least one former employee who had accused him of sexual harassment, a person close to the matter said.

The company’s board ousted the 45-year-old Charney as chairman on Wednesday, citing unspecified allegations of misconduct. It suspended him as president and chief executive officer, and plans to fire him for cause, following a 30-day period stipulated in his contract.