Legg Mason Opportunity Trust Manager Bill Miller said he bought JC Penney debt for a new fund. Miller holds the record of beating the US benchmark for 15 years.
Funding
Saputo's AUD449 million bid permitted by WCB board and Australian government
Canadian company Saputo Inc's AUD449 million offer for Warrnambool Cheese and Butter Factory Holdings Ltd. has been recommended by the WCB board and subsequently approved by the Australian government.
Hedge funds find their way to invest in municipal debt market
Hedge funds are now entering the municipal debt market, finding a veritable gold mine in value but may provide more problems in the long run as to the temporary nature of the investments.
Arpex Capital gives USD 200,000 in seed funding to Backdoor
Backdoor, the anonymous messaging app, founded by technology prodigy Daniel Singer, was able to gather USD 200,000 in seed funding from Brazil-based investment company Arpex Capital.
Emulex Corp to buy back shares, Chairman to step down amid shareholder pressure
Emulex Corp announced that it would be holding a share buyback as activist shareholders called for reforms. Emulex Executive Chairman James McCluney will also step down from the company's board.
Latest News
Atomico Ventures was able to raise USD 476.6 million for its third fund, based on an filing submitted to the US Securities and Exchange Commission on October 25.
Singapore-based Bitcoin exchange startup itBit secured USD3.25 million in a new funding round to be used for the launching of its Bitcoin exchange currency and the expansion of its operations worldwide.
Czech startup Futurelytics Inc closed its seed financing with USD 800,000 in a round led by Index Ventures and Credo Ventures. Futurelytics was the first Czech company to win initial funding from Seedcamp.
Accredited investors from The Williams Financial Group participated in the Series C round for Dallas-based Cleantech IT innovations firm Servergy Inc which closed with USD 20 million.
The USD4.2 billion purchase by Shire Plc of ViroPharma Inc is the highest purchase on EBITDA rates for a biotechnology firm in history, as the price is 58 times EBITDA.
South African wireless operator Vodacom had laid out plans to increase its investments through increased pace of network upgrades according to its Chief Executive Officer Shameer Joosub.
Bitcasa Inc., a cloud storage company based in California, raised USD11 million in its venture round funding. Bitcasa has raised USD19.5 million since it's launch in September 2011.
Toll Brothers Inc would be seeking to acquire the amount needed to finance its USD1.6 billion acquisition of Shapell Industries Inc and refinance its 4.95 notes due next year.
The amount that private-equity firm KKR & Co would use to acquire Brickman Group Ltd would come from its ongoing North American fund worth over USD8.3 billion and other financial pools.
