Speaking to Bloomberg from Omaha, NB, Berkshire Hathaway's Warren Buffett says his successor has been chosen by the board and he designed the successor's new pay scheme.
Investors
Verizon CEO Opens But Not Any Cost For Buyout
Verizon CEO said that it would not pay premium for buyout of Vodafone in its joint venture. According to Verizon Communications CEO Lowell McAdam it would like to buy out its joint venture partner Vodafone but will not do so at any cost.
TPG-Axon Capital Obtains Majority
TPG-Axon Capital gains majority control of board seats at SandRidge Energy Corp. TPG-Axon Capital, the hedge fund manager, has landed almost half of the seats at SandRidge Energy Corp's board.
Roper Acquires Managed Health Care Associates
Roper purchases Managed Health Care Associates for an estimated US$1 billion. Industrial manufacturing specialist Roper has recently acquired Managed Health Care Associates.
Ares Management IPO to be Done in the Next Few Months
Ares IPO would be conducted in the next few months, at a time that the market is very buoyant. Ares Management LLC is an investment firm with about US$59 billion in its portfolio of credit and private equity assets.
Latest News
Geodynamics seeking new partner for its Innamicka project located in central Australia. Geodynamics is a firm whose business explores the underground as a means to harness the power generated from hot rocks.
Markel Corp announces the acquisition of Alterra Capital. Markel Corporation announced that it has completed the purchase and acquisition of Alterra Capital Holdings Ltd.
Dean Foods spins off WhiteWave Foods. US based food and beverage company, Dean Foods Company, signed the spin off from The WhiteWave Foods Company. In an announcement, the board of directors had consented to the distribution of the residual equity interest in The WhiteWave Foods Company to stockholders of Dean Foods.
NorthStar and sponsored firm funds US$255 million loan over Milford Plaza Hotel in Times Square, New York.
Aytos Soditic completes acquisition of four Sage subsidiaries. Argos Soditic has announced the completion of the acquisition of four Sage subsidiaries that specialize in software edition for vertical markets.
ArcView Investor Network nets US$1 million commitments. At a press conference held last Monday in Seattle, ArcView Investor Network disclosed to attendees a number of its initial external angel investments in the newly legalized marijuana industry.
Former Goldman Sachs banker Fang Fenglei opens new fund named Hopu Master Fund II. Former Goldman Sachs banker, Fang Fenglei, is now undertaking a mission to raise US$2 billion in a new fund, according to anonymous sources familiar with the transaction.
The Truell brothers invest major capital funds to become majority shareholders of Imagine Publishing.
Giant receives investment funding from Shamrock Capital. Giant Creative/Strategy LLC, the leading healthcare communications agency, announced it had received funding from Shamrock Capital Advisors, the private equity firm based out of Los Angeles, CA.
