Saturday, 20 September 2014
Last updated 23 hours ago
Feb 11 2011 | 8:21am ET
Carl Icahn has once again extended his $665 million tender offer for energy company Dynegy Inc., in spite of the fact that the first extension persuaded almost no new shareholders to sign up.
The Icahn Enterprises chief is now giving Dynegy investors until Valentines Day to make their decision; the bid was first set to expire in January and then on Wednesday. But given that the tepid support—only about 4.4% of shareholders had tendered their shares by Wednesday, about the same as at the first deadline—it seems likely that the offer will be defeated.
That's good news for hedge fund Seneca Capital, which has already defeated—along with Icahn—one offer for Dynegy and seems poised to win again.
Icahn can continue to extend the deadline on his offer until September.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.