China’s top offshore oil company CNOOC has made a joint $5 billion bid with Ghana National Petroleum Corp for Kosmos Energy’s assets, a source close to the deal told Reuters. Kosmos is prized for its stake in Jubilee, one of the largest oil discoveries in the world in recent years.

Previously a $4 billion bid by Exxon Mobile for Kosmos failed because it was unable to secure Ghanaian government support. GNPC sources have told Reuters since last year that it had been talking to CNOOC about a possible bid. *View article

FT’s Alphaville blog breaks down the ramifications of Barclays losing its court battle with Lehman Brothers over its purchase of Lehman’s brokerage unit in bankruptcy proceedings in 2008. A loss could cost Barclays as much as $10 billion. *View article

Healthcare real-estate investment company Ventas Inc is looking to corner the U.S. senior housing market by announcing it intends to buy the real-estate assets of Atria Senior Living Group for about $1.5 billion. *View article

Iconic investor Warren Buffett, aka The Oracle of Omaha, makes $15 per second according to the WSJ’s Deal Journal. *View article