OfficeMax faces suit from investor for breach of fiduciary duties. An OfficeMax Inc shareholder has filed suit against the directors of the company as it seeks to stop the takeover by Office Depot Inc.
Sectors
ISS Endorses Elliot Management Nominated Directors
ISS endorses the directors nominated by Elliot Management. The shareholders of Hess Corp should elect all five directors nominated by Elliot Management Corp for its May 16 annual meeting.
Newell Selling Off Business Units
Newell is selling two of its business units in a bid to lower costs and boost profits. Newell Rubbermaid Inc will be putting up its Hardware and Teach Platform businesses.
Rwanda Preparing for IPO
After a two year wait, the Rwandan bourse is preparing an IPO of I&M Bank. The Rwandan Stock Exchange is now in the midst of planning its first listing since June of 2011.
Temasek Purchases Shareholdings in Markit Group
Temasek Holdings Ltd purchases US$500 million stake in Markit Group. The sovereign wealth investment fund of Singapore, Temasek Holdings Ltd is now in discussion with Markit Group for the purchase of shareholdings estimated to be around US$500 million.
Latest News
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 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 purchases Managed Health Care Associates for an estimated US$1 billion. Industrial manufacturing specialist Roper has recently acquired Managed Health Care Associates.
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.
STX Corp to sell STX Energy Co shares to Hahn & Company. An STX spokesman confirmed Friday that STX Corp would be selling off 43. 15% shareholdings in its afflilate STX Energy Co Ltd to private equity firm Hahn & Company.
Colony American Homes offers IPO to press on its acquisition scheme of single family rental homes.
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.
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.
