M & A wrap: MF Global workers sue Corzine
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.
Blackstone’s Asia-Pacific chief, Michael Chae, told the 2012 Reuters Investment Outlook Summit that he sees China and Southeast Asia as top destinations for Asia investments next year. “There’s an above-average level of uncertainty around macro conditions in this region and globally, which makes it a really intellectually interesting time to be alive and to be investing,” he said.
European competition authorities are ready to block the $9 billion merger of NYSE Euronext and Deutsche Boerse unless the companies agree to new asset sales, Le Monde newspaper reports.
As 2011 is drawing to a close, the Deal Journal finds out which company has been the busiest acquirer of the year?