Unstructured Finance

Deals wrap: Shell games

August 1, 2011

A new Reuters investigative report takes a deeper look at a niche industry of advisers who specialize in so-called “reverse merger” deals that use shell companies to give clients easy entry into U.S. capital markets. As correspondents Nanette Byrnes and Lynnley Browning report, more than 400 Chinese companies have been listed in the U.S. over the course of the last decade by way of this back-door method. But, as their investigation shows, a recent “spate of spectacular collapses of Chinese stocks listed on American exchanges has cost U.S. investors billions of dollars” and sparked multiple investigations into the practice.

Deals wrap: Copycats sure to follow LinkedIn

May 20, 2011

A day after LinkedIn’s shares more than doubled in their public trading debut, analysts are scrambling to explain why the stock exploded and figure out what happens next.

Deals wrap: Blockbuster year for M&A?

March 25, 2011

A man and child look out over destroyed homes after a tsunami and earthquake in Sendai, northeastern Japan March 12, 2011. REUTERS/KyodoDespite upheaval in the Middle East and Japan, worldwide M&A have risen 58 percent to $717 billion so far this year, according to preliminary data from Thomson Reuters, marking the best start to a year since 2007 and building on last year’s tentative recovery. Analysts expect to see continued strong activity in mining and energy, but some warned it’s still too early to see the full implications of the recent crises.

Deals wrap: Icahn turns inward

March 8, 2011

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007.  REUTERS/Chip East Seems billionaire investor Carl Icahn has had enough of managing money for outsiders. The 75-year-old stock picker dropped a bit of surprising news on Tuesday when he said he plans on returning all of his clients’ money, making him the latest in a string of investors to do so.

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: Aussie coal is hot

August 5, 2010

A coal excavator loading coal at one of Macarthur Coal's mines  in Queensland is seen in this undated photograph obtained April 9, 2010. REUTERS/Macarthur Coal/HandoutAround $7 billion of Australia’s coal assets are in the crosshairs of predators from Seoul to Shanghai, as Asia jostles for supplies to feed its burgeoning needs, pushing up bid valuations for Australian coal miners. *View article *View factbox

Check Out Line: Borders launches e-bookstore … finally

July 7, 2010

bgp1Check out Borders Group finally launching its e-bookstore.

The No. 2 U.S. bookstore chain’s electronic bookstore comes nine months after rival Barnes & Noble debuted its Nook e-reader and three months after Apple introduced its popular iPad tablet computer, allowing both companies, and Amazon.com, which sells the Kindle e-reader, to get a head start.

Check Out Line: Ron Burkle invests in yet another challenged company

June 25, 2010

AmericanApparelCheck out Ron Burkle’s continued affinity for companies in trouble.

The supermarket magnate has taken a 6 percent stake in American Apparel, according to a regulatory filing on Thursday. That’s the billionaire’s latest investment in iconic companies that just can’t seem to get back on track. 

Check Out Line: The latest bookseller boss shakeup

March 18, 2010

EARNINGS/Check out the new guy in charge at Barnes & Noble.

On Thursday, Barnes & Noble named William Lynch, the (young) father of its Nook e-reader, as its new chief executive.  Outgoing CEO Stephen Riggio — the chairman and founder’s brother — is sticking around as a vice chairman.

Check Out Line: Power plays in the air

February 17, 2010

walgreen1Check out the power plays going on in the consumer world.

Walgreen said it will buy Duane Reed for $618 million in cash, catapulting the largest U.S. drugstore operator into the top spot in the New York City area. The deal price also includes the assumption of $457 million in debt.