Tuesday, 23 September 2014
Last updated 7 hours ago
May 16 2008 | 11:49am ET
Activist hedge fund Jana Partners says it is reviewing CBS Corp.’s deal to buy Internet media company CNet Networks, but it’s hard to imagine that Barry Rosenstein is anything but thrilled.
CBS yesterday agreed to buy CNet for $1.8 billion in cash, or $11.50 per share, a 45% premium. In a white paper put out last month by Jana and its partners, fellow activists Sandell Asset Management and Spark Capital, valued the company at $11 per share.
Jana, which, along with its partners, had been seeking control of the CNet board, accusing the existing directors of not doing enough to improve returns, owns about 10% of CNet. The hedge fund stands to see its stake’s value soar more than $100 million should the CBS deal go through.
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.