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’Unidentified risks for UBS? And Merrill. And Citi.
Amid all this general market turmoil, lest we forget that it started – and is still continuing – as a severe banking crisis: this, on UBS, from Citi analysts today:
UBS has taken $38bn markdowns over 3Q07-1Q08 on problem assets,
Harrah’s pursues Gala casino deal
Harrah’s Entertainment, the US casino behemoth that owns London Clubs International, is understood to have made a tentative approach to Gala Coral Group, the betting and gaming operator, about the possibility of merging LCI with Gala Casinos,
Harrah’s and Realogy put Apollo in the big league
It’s been a good week for Leon Black, the enigmatic founder of private equity firm Apollo Group, points out the New York Times. In the course of three days, his firm has struck about $37bn worth of deals.
TPG, Apollo buy Harrah’s for $17.1bn
Harrah’s, the world’s largest casino operator, agreed to be sold to private equity firms Texas Pacific Group and Apollo Management for $17.1bn excluding debt yesterday after more than two months of talks.
$100bn in deals sends US equities to fresh highs
It’s just another merger Monday. More than $100bn in deals helped the S&P to a six-year high and the DJIA to another intra-day record of 12,487.9.
Express Scripts, the pharmacy benefits manager, said it had tabled an offer to buy Caremark for $26bn,
Harrah’s $25bn-plus sale nears completion
Harrah’s Entertainment, the world’s largest casino group, was last night close to being sold for more than $25bn including debt, with a consortium of private equity groups emerging as the most likely buyers.