Unstructured Finance

Mahindra Satyam dives after results

September 30, 2010

SATYAM/

Shares in Mahindra Satyam ended 8.7 percent lower at 90.25 rupees on Thursday after the company reported a net loss for 2009 and 2010 after market hours the previous day.

Deals wrap: Avis ups the ante in bidding war

September 30, 2010

Car rental company Avis has agreed to pay a $20-million break-up fee in its offer for Dollar Thrifty if rival Hertz walks away from its own takeover bid. Dollar Thrifty shareholders were due to vote on the Hertz offer on Thursday in Chicago, but announced they have delayed that vote, citing additional voting activity. *View article*

Smith attacks hedge funds’ 2 and 20

September 30, 2010

Here’s the link to Terry Smith’s blog attacking the “unsupportable” practice of hedge funds charging their clients fees of 2 and 20 (2 percent annual and 20 percent performance).

Mahindra Satyam posts FY09, FY10 results

September 29, 2010

Mahindra Satyam on Wednesday reported net losses for FY2009 & FY2010, giving the first view of its financial state almost 2 years after it was hit by India’s biggest corporate fraud.

Deals wrap: Pricing Genzyme

September 29, 2010

A sign points the way to the headquarters of Genzyme in Cambridge, Massachusetts August 3, 2010. REUTERS/Brian Snyder    Sanofi-Aventis is considering whether to raise its $18.5-billion bid for drugmaker Genzyme as soon as next week, Bloomberg said, citing sources. Sanofi has not ruled out a hostile bid but would prefer friendly negotiations, the report said. *View article *View factbox

BSE Power Index gains

September 28, 2010

The sun sets behind electric pylons in Allahabad February 22, 2006. REUTERS/Jitendra PrakashPower stocks posted decent gains on Tuesday, sending the power index up 1.15 percent to the top of the sectoral gainers list.

Check Out Line: Showdown at the Barnes & Noble corral

September 28, 2010

barnes1Check out Barnes & Noble’s victory at its annual meeting.

Shareholders of the U.S. bookseller had to choose between dissident investor Ron Burkle and Chairman Len Riggio as a bitter proxy battle between the chain’s top two stakeholders came to a head.

Deals wrap: Befriending the market

September 28, 2010

Facebook CEO Mark Zuckerberg speaks while unveiling the company's new location services feature called "Places" during a news conference at Facebook headquarters in Palo Alto, California August 18, 2010.  REUTERS/Robert Galbraith Facebook is likely to go public sometime after late 2012, a board member said. A stock market debut by a company valued in the tens of billions of dollars would be one of the most highly anticipated initial public offerings of the decade. *View article