Sunday, 3 May 2015
Last updated 1 day ago
Aug 30 2010 | 12:50pm ET
The Man Group and GLG Partners have amended their merger agreement to dispose of several lawsuits filed by smaller GLG shareholders.
Under the terms of the new agreement, the break-up fee owed by GLG to Man if the deal falls through has been cut to US$26 million from US$48 million, and the time period covered by the break-up agreement has been reduced from 12 months to nine.
Man is paying $1.6 billion in cash and shares for London-based GLG in a move that is expected to create the world’s largest hedge fund manager, with more than US$60 billion in assets under management.
Three shareholder lawsuits, two filed in New York and one in Delaware, the latter alleging that GLG shareholders were not getting a fair shake in the deal, will be dismissed.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…