M & A wrap: Looking at MF Global’s accounting
Although the size of MF Global’s wager on European sovereign debt has received a great deal of scrutiny, the accounting and the disclosure surrounding it have not–and may have played a role in the firm’s demise, writes Vanity Fair’s contributing editor Bethany McLean.
“The tragic element of Corzine’s MF Global is that Monday’s bankruptcy filing could have easily been avoided if Corzine’s ego and ambition had been held in check by someone — anyone — willing to stand up to the former New Jersey governor, senator and senior partner at Goldman Sachs,” reports Bloomberg.
The ex-CEO of Japan’s Olympus Corp said he wanted to meet investigators appointed to probe a scandal engulfing the firm, but added it would not be safe for him to travel to Japan.
Groupon’s IPO may be the biggest test yet for the nascent private stock exchanges that allow investors to trade the shares of hot start-ups like Facebook Inc before they go public.
New directors nominated by an activist investor are leading a push to break up Visteon, even though the auto parts supplier’s management has argued against such a move, people familiar with the situation said.