Tuesday, 23 September 2014
Last updated 9 hours ago
Apr 29 2008 | 3:36pm ET
HBK Investments, the largest shareholder of Circuit City Stores, is pushing the electronics retailer to accept an unsolicited bid from Blockbuster Inc. The Dallas-based hedge fund also indicated it might help finance the deal.
“We are very optimistic about the future prospects of a combined company,” HBK wrote to Circuit City CEO Philip Schoonover. It called on the Richmond, Va.-based electronics retailer, in which it owns a 9.1% stake, to “immediately” provide information to Blockbuster, and threatened to file a lawsuit if the board refuses to do so.
“We see little downside to Circuit City’s business by allowing Blockbuster to conduct full due diligence,” HBK, which also owns an 8.5% stake in the video rental chain, said. So positive is the firm that it “might also be prepared to provide financing” for the acquisition.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.