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Jan 18, 2013

Liberty Media takes majority control of Sirius XM satellite radio

Jan 18 (Reuters) – Liberty Media Corp has taken
majority ownership of Sirius XM Radio Inc, a securities
filing showed, after months of trying to wrest control of the
satellite radio broadcaster.

John Malone’s Liberty Media bought another 50 million shares
of Sirius stock at an average price of $3.15 per share,
according to a company filing made with the U.S. Securities and
Exchange Commission (SEC) on Thursday.

Jan 16, 2013

HK panel awards $77 mln to Greenberg’s Starr from “fraudulent” firm

Jan 16 (Reuters) – A Hong Kong arbitration panel has ruled
that China MediaExpress Holdings Inc was a “fraudulent
enterprise” and awarded $77 million to Starr Investments, a firm
run by former AIG chief Maurice Greenberg, a U.S. court filing
shows.

Starr sued China MediaExpress in 2011, saying it had been
fraudulently induced to invest in the advertising firm, whose
shares were subsequently delisted from stock exchange in the
United States.

Jan 8, 2013

Sears says CEO to step down in early February

By Dhanya Skariachan and Sakthi Prasad

(Reuters) – Sears Holdings Corp (SHLD.O: Quote, Profile, Research, Stock Buzz) said late on Monday Chief Executive Louis D’Ambrosio will step down for family health reasons after the U.S. retailer reported a 1.8 percent decline in quarter-to-date sales at stores open at least a year.

Edward Lampert will assume the role of Sears CEO in addition to his current role as chairman, Sears said in a statement late on Monday. Lampert’s hedge fund, ESL Investments, had a 34.14 percent stake in Sears Holdings as of November 30, according to Thomson Reuters data.

Jan 4, 2013

SEC drops case against ex-Berkshire exec Sokol – lawyer

Jan 3 (Reuters) – The U.S. securities regulator has decided
not to take action against David Sokol, once considered a
possible candidate for the top job at Warren Buffett’s Berkshire
Hathaway Inc, Sokol’s lawyer told Reuters.

In 2011, Buffett said Sokol violated the company’s insider
trading rules to score a $3 million windfall profit on shares of
U.S. chemicals maker Lubrizol, which rose by nearly a third
after Berkshire Hathaway announced it would buy the company.

Dec 21, 2012

Crane to buy privately held MEI Conlux for $820 mln

Dec 20 (Reuters) – U.S. diversified manufacturer Crane Co
said it will buy MEI Conlux Holdings and its Japanese
affiliate for about $820 million from private equity firms Bain
Capital and Advantage Partners to widen its base in making
machines that can handle money through automated mechanisms.

Crane has invested over $220 million to grow its payment
solutions business in recent years and MEI Conlux is the
company’s third deal since 2006 in a business segment that
caters to a range of automated money handling solutions, aimed
at the gaming, retail, transportation and vending markets.

Dec 18, 2012

Newtown backlash prompts Bushmaster rifle maker sale

Dec 18 (Reuters) – The company whose AR-15 type Bushmaster
rifle was used in the Newtown school massacre in Connecticut
will be immediately put up for sale, its private equity owner
Cerberus Capital Management LP said on Tuesday in response to
investor concerns.

The secretive private equity firm risked the ire of
investors, which include some of the largest U.S. public pension
funds, after its investment in Freedom Group Inc, owner of
Bushmaster Firearms International that makes the rifle, came
under public scrutiny.

Dec 18, 2012

Cerberus to sell gunmaker Freedom Group after shootings

Dec 18 (Reuters) – U.S. private equity firm Cerberus Capital
Management is selling its investment in gunmaker Freedom Group,
whose AR 15 rifle was used in a U.S. school massacre last week,
following pressure from a major investor.

The California State Teachers’ Retirement System (CalSTRS)
said on Monday it was reviewing its investment with Cerberus in
the wake of Friday’s shooting in Newtown, Connecticut which
claimed 27 lives, including 20 school children.

Nov 8, 2012

Monitor Company files for Chapter 11; Deloitte to buy assets

By Sakthi Prasad

(Reuters) – Consulting and advisory firm Monitor Company Group and its affiliates filed for Chapter 11 bankruptcy protection, court documents showed, and said it has agreed to sell its assets to global consultancy firm Deloitte DLTE.UL.

As per the asset purchase agreement, Deloitte Consulting LLP will acquire Monitor’s U.S. practice, and practices outside the United States will be acquired by certain other member firms of Deloitte Touche Tohmatsu Limited.

Oct 31, 2012

U.S. stock markets to reopen on Wednesday after storm

By John McCrank and Sakthi Prasad

(Reuters) – Major U.S. stock exchanges expect to reopen on Wednesday after Sandy, the worst storm to hit New York in nearly 75 years, closed trading for two days.

NYSE Euronext (NYX.N: Quote, Profile, Research, Stock Buzz) said the New York Stock Exchange would open as usual, although it was prepared to switch to fully electronic trading if necessary. Nasdaq OMX’s Nasdaq Stock Market was also to be operating on Wednesday, as were BATS and Direct Edge Exchanges.

Oct 30, 2012

U.S. stock markets to reopen Wednesday

By John McCrank and Sakthi Prasad

(Reuters) – Major U.S. stock exchanges expect to open on Wednesday after Hurricane Sandy, the worst storm to hit New York in nearly 75 years, shut down trading for two days.

NYSE Euronext (NYX.N: Quote, Profile, Research) said the New York Stock Exchange would open, although it would switch to fully electronic trading if necessary. Nasdaq OMX’s Nasdaq Stock Market will be operating on Wednesday as well, and BATS Exchanges will be open as well.

    • About Sakthi

      "I am a Bangalore-based reporter covering the U.S. Overnight shift. Previously, I have written about small- and mid-cap U.S. companies."
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