Group of hedge funds close to sealing deal with Detroit... [more]Komfie Manalo, Opalesque Asia: A group of hedge funds is seen to approve a breakthrough deal between the embattled city of Detroit and a bond insurer, bringing the city a step closer to ending its bankruptcy, the
Walgreen should delay deal after CFO lawsuit, fund says... [more]From Businessweek.com: Walgreen Co.’s board should delay approving its $15.3 billion buyout of Alliance Boots Holdings Ltd, said a union-backed pension advisory firm, after the U.S. pharmacy chain’s ex-financial chief alleged he was pressured to take the fall for a cut to Walgreen’s earnings forecas
Legal - Martoma loses fight to stay out of prison... [more]From USAToday.com: Former SAC Capital portfolio manager Mathew Martoma has lost his bid to remain free on bail pending appeal of his conviction in what prosecutors termed the most profitable insider-trading case in U.S. history.
In an order filed Tuesday, U.S. District Judge Paul Gardephe rul
Activist News - Third Point's Loeb urges breakup of biotech company Amgen... [more]From Reuters.com: Hedge fund manager Daniel Loeb told investors on Tuesday he urged U.S. biotechnology company Amgen Inc to split into two separate businesses, a move he said could boost its share price by more than 80 percent.
"Our own extensive diligence suggests that a breakup of Amgen is f
News Briefs - Tom Steyer's flood of campaign money hits $55m to NextGen... [more]Environmentally-minded billionaire Tom Steyer gave another $15 million to his NextGen Climate Action in September, his outside spending group whose $20 million in campaign spending last month made it September's No. 1 spender. The donation also brings Steyer's super PAC contributions for the 2014 cy
…And Finally - Least competent criminals of the week... [more]From Newsoftheweird.com: (1) William Dixon, 21, was arrested in Brentwood, Tennessee, in August fleeing a Best Buy store after arousing suspicion. According to the police report, Dixon, on foot, ran across all lanes of Interstate 65, but the chase ended when he collided with a tree.
(2) In Oc