NEW YORK/BANGALORE (Reuters) – The crippled law firm Dewey & Leboeuf LLP filed for chapter 11 bankruptcy protection Monday night and will seek approval to liquidate its business after failing to find a merger partner, marking the biggest collapse of a law firm in U.S. history.
Once one of the largest law firms in the U.S., Dewey has been hit by the loss of the vast majority of its roughly 300 partners to other firms amid concerns about compensation and a heavy debt load.
April 2 (Reuters) – Pinnacle Airlines Corp, parent
of Pinnacle Airlines and Colgan Air, filed for bankruptcy
protection late on Sunday, the latest victim of high fuel prices
and dampened travel demand.
Memphis, Tennessee-based Pinnacle operates as various
regional airlines – most notably Delta Connection – for
bigger-name partners including Delta Air Lines, United
Airlines and US Airways.
By Sakthi Prasad and Rachel Armstrong
(Reuters) – Bankruptcy threatened plantation operator Sino-Forest Corp said an independent committee had wound up its probe into allegations the firm had exaggerated its assets, but its report is unlikely to pacify investors as it left key questions unresolved.
China-focused, Canadian-listed Sino-Forest has been reeling since last June, when short-seller Carson Block and his Muddy Waters firm alleged it had exaggerated its Chinese forestry assets in what it described as a “Ponzi scheme.”
ZURICH, Jan 30 (Reuters) – Swiss engineering group ABB
said on Monday it had agreed to buy U.S. electrical
components maker Thomas & Betts for $3.9 billion in cash to
broaden its inroads into the world’s largest market for
Under the terms of the deal ABB will pay $72 per share in
cash for Thomas & Betts, a 24 percent premium over the stock’s
Friday’s closing price.
(Reuters) – Roche Holding AG (ROG.VX: Quote, Profile, Research) is offering $5.7 billion (3.6 billion pounds) in cash to buy U.S. gene sequencing company Illumina Inc (ILMN.O: Quote, Profile, Research) in a hostile takeover bid that marks a major play by the Swiss drugmaker into the gene technology field.
Gene sequencing is central to personalised medicine, which allows scientists to predict a patient’s response to a particular drug, both during clinical practice and in drug trials.
(Reuters) – Swiss drugmaker Roche Holding AG (ROG.VX: Quote, Profile, Research, Stock Buzz) offered about $5.7 billion in cash to buy U.S. gene sequencing device maker Illumina Inc (ILMN.O: Quote, Profile, Research, Stock Buzz), in a potentially hostile takeover bid to boost its position in life sciences and diagnostics.
Biotechnology and pharmaceutical companies can utilize gene-sequencing on a larger scale to predict a patient’s response to a particular drug, especially during drug trials.
BANGALORE/MUMBAI, Jan 24 (Reuters) – U.S.-based Watson
Pharmaceuticals Inc said it bought the Australian and
South East Asian generic drugs business of India’s Strides
Arcolab for A$375 million ($396 million), boosting
Strides’ shares by more than 18 percent.
Watson said on Tuesday it acquired 94 percent of Ascent
Pharmahealth Ltd from Strides and the rest from the Australian
company’s chief executive, Dennis Bastas.
BANGKOK/KUALA LUMPUR (Reuters) – Workers pouring cement into blocks in searing heat to build a new rail line northwest of Bangkok illustrate what many see as the early stages of a long-delayed Southeast Asian infrastructure resurgence.
From Bangkok to Kuala Lumpur to Hanoi, policymakers are dusting off ambitious plans for railways and other projects, emboldened in some cases by investment from China.
KUALA LUMPUR, May 27 (Reuters) – Malaysia’s Sime Darby
, the world’s top planter by landbank size, said it
expects to beat its targets for this financial year due to
strong crude palm prices, better contributions from other
divisions and a plan to cut non-core assets.
Sime made a commitment last year to cut non-core assets
after suffering two consecutive quarters of losses owing to
losses at its energy division.
LONDON (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) agreed to buy MWM Holding GmbH, the German maker of gas and diesel engines, from British private equity firm 3i Group Plc (III.L: Quote, Profile, Research, Stock Buzz) for about 580 million euros ($810 million) in cash.
Caterpillar’s rich offer pre-empted a formal auction that was likely to have attracted a string of big strategic buyers, two people familiar with the matter said.