Paritosh's Feed
Aug 7, 2011

Wall Street braces for impact from downgrade

NEW YORK (Reuters) – A downgrade of United States’ top-tier credit rating has Wall Street scrambling to figure out the knock-on effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral.

The immediate effects of the Standard & Poor’s downgrade of the country’s AAA credit rating late on Friday are likely to be modest, largely because it was expected and already at least partly discounted, experts said.

Aug 3, 2011

Dealtalk: Icahn playbook gets predictable, critics say

NEW YORK (Reuters) – Carl Icahn’s playbook might be too predictable.

The billionaire investor has made one of his biggest takeover bids in a decades-long career, offering to buy Clorox Co (CLX.N: Quote, Profile, Research) for $10.7 billion — and hardly anyone thinks he is serious.

Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate.

Aug 3, 2011

Icahn playbook gets predictable, critics say

NEW YORK, Aug 3 (Reuters) – Carl Icahn’s playbook might be
too predictable.

The billionaire investor has made one of his biggest
takeover bids in a decades-long career, offering to buy Clorox
Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is
serious.

Aug 3, 2011

Dealtalk: Icahn treads fine line between activism, nuisance

NEW YORK (Reuters) – Carl Icahn’s playbook might be too predictable.

The billionaire investor has made one of his biggest takeover bids in a decades-long career, offering to buy Clorox Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is serious.

Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate.

Aug 3, 2011

Icahn treads fine line between activism, nuisance

NEW YORK, Aug 3 (Reuters) – Carl Icahn’s playbook might be
too predictable.

The billionaire investor has made one of his biggest
takeover bids in a decades-long career, offering to buy Clorox
Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is
serious.

Jul 29, 2011

UBS hires BofA banker as global equities co-head

NEW YORK, July 29 (Reuters) – UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) has hired
former Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) banker Mike Stewart as
co-head of global equities, succeeding Yassine Bouhara, who
will become CEO of emerging markets for the investment bank.

The move comes as the Swiss bank aggressively hires to
reverse a talent bleed from its investment bank, which over the
last few years has seen scores of bankers leave.

Jul 26, 2011

GE fails to sell railcar unit again: sources

NEW YORK (Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) has ended the auction of its roughly $3 billion railcar leasing business, making it the second time in three years the conglomerate has tried unsuccessfully to do so, sources familiar with the matter said on Tuesday.

The exact reasons for the auction’s failure were not clear, but one source said financing was likely an issue, indicating that funding the purchase of a large leasing business remains challenging despite improved credit conditions.

Jul 25, 2011

Lazard hires ex-UBS financial services banker Howe

NEW YORK, July 25 (Reuters) – Lazard Ltd (LAZ.N: Quote, Profile, Research, Stock Buzz) said on
Monday it hired former UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) investment banker Gary
Howe as head of financial institutions advisory in North
America.

Howe, who will be based in New York, was previously co-head
of UBS financial institutions group in the Americas. He left
UBS in May and has been on leave in between jobs.

Jul 22, 2011

Blackstone, Stifel, others eye Morgan Keegan

NEW YORK, July 22 (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz),
Carlyle Group and Stifel Financial Corp (SF.N: Quote, Profile, Research, Stock Buzz) are among the
firms expected to submit initial bids on Monday for Morgan
Keegan, the brokerage unit of Regions Financial Corp (RF.N: Quote, Profile, Research, Stock Buzz),
sources familiar with the situation said.

Morgan Keegan has a book value of about $1.5 billion, one
source said.

Other potential bidders for the unit include private equity
firms TPG Capital LP [TPG.UL], Apollo Global Management LLC
(APO.N: Quote, Profile, Research, Stock Buzz) and Warburg Pincus LLC [WP.UL], the sources said.

Jul 22, 2011

Exclusive: PE, rivals eye Morgan Keegan

NEW YORK (Reuters) – Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), Carlyle Group and Stifel Financial Corp (SF.N: Quote, Profile, Research, Stock Buzz) are among the firms expected to submit initial bids Monday for Morgan Keegan, the brokerage unit of Regions Financial Corp (RF.N: Quote, Profile, Research, Stock Buzz), sources familiar with the situation said.

Morgan Keegan has a book value of about $1.5 billion, one source said.

Other potential bidders for the unit include private equity firms TPG Capital TPG.UL, Apollo Global Management (APO.N: Quote, Profile, Research, Stock Buzz) and Warburg Pincus WP.UL, the sources said.