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’Paulson’s BofA-Citi-Wells switcheroo
John Paulson’s quarterly 13F filing was released late on Monday and the headlines make for interesting reading. We may go through it in more detail later but we thought this portfolio change-up was worth noting right away:
Presenting the Google phone
Breaking Google news on Monday lunchtime:
RTRS-GOOGLE TO ACQUIRE MOTOROLA MOBILITY
RTRS-GOOGLE INC – DEAL FOR $40.00 PER SHARE IN CASH
RTRS-GOOGLE INC – DEAL FOR ABOUT $12.5 BLN
RTRS-GOOGLE INC – SAYS MOTOROLA MOBILITY WILL REMAIN A LICENSEE OF ANDROID AND ANDROID WILL REMAIN OPEN
RTRS-GOOGLE INC – SAYS GOOGLE WILL RUN MOTOROLA MOBILITY AS A SEPARATE BUSINESS.
SEC charges 35-year Deloitte veteran with insider trading
This is increasingly looking like the worst of times for professional services firms.
Management consultants were more than a little shaken when the investigation into alleged insider trading at Galleon ensnared a former McKinsey director.
Motorola eyes sale of unit
Motorola is in the early stages of looking into a potential sale of its $4.5bn television set-top box and network equipment business, and has hired JPMorgan and Goldman Sachs as advisors, reports Reuters.
CDS report: Strong earnings inspire confidence
This CDS report was written by Markit’s Gavan Nolan
Credit experienced once of its strongest sessions for some time today as the earnings season continued to provide evidence of a recovering corporate sector.
India’s Videocon eyes Motorola handsets
Videocon, the Indian electronics group, has made an approach to Motorola to buy the handset business of the US telco group. Venugopal Dhoot, chairman of Videocon, told the FT that the company submitted an unsolicited “expression of interest” to Motorola on Monday.
Shadow of Icahn over Motorola spin-off plans
Motorola is to separate its struggling mobile handset business from its other operations, in a move to create two separate publicly traded companies that comes after months of agitation from disgruntled investors led by corporate raider Carl Icahn,
Motorola and Lenovo are telling us something: The force is in Finland
It’s all go – or should that be, “stop” – in the mobile telephone industry, for just about everyone except Nokia. Friday’s report of Motorola’s momentous plan to spin-off or sell its flagship mobile handset unit coincided with news that Lenovo is also planning its retreat from the mobile handset business.
Motorola considers a break-up
Motorola on Thursday said it was considering spinning off its struggling mobile devices business, in a move that sent shares in the beleaguered handset maker up more than 10% in after-hours trading, reports the FT.
FSA to prosecute in Motorola case
The UK’s Financial Services Authority launched its first criminal prosecution for insider dealing on Tuesday, toughening its stance in an area in which it has traditionally been considered soft. The FSA is bringing the prosecution against Christopher McQuoid,
Icahn hints at new Motorola challenge
Carl Icahn, the US activist investor, has signalled the possible launch of a new campaign against Motorola if performance at the telecommunications equipment maker does not improve. Icahn told the FT that “there is value” in Motorola,
Icahn hints at Motorola challenge
Carl Icahn, the US activist investor, has signalled the possible launch of a new campaign against Motorola if performance at the telecommunications equipment maker does not improve. In an interview with the FT,
Motorola is latest target of poor man’s activism
There’s been an outbreak of mini-activism – and it’s all over the telecoms companies.
In the UK, we’ve had the puzzling case of John Mayo and Efficient Capital Structures taking a tilt at Vodafone, with just over 200,000 shares in their back pocket.
Icahn fails to win Motorola board seat
Investor Carl Icahn failed to win enough votes to obtain a seat on Motorola’s board, based on preliminary results from the company, the Wall Street Journal reports. The telecom company said it believes that stockholders have re-elected the company’s incumbent board of directors and didn’t elect Mr Icahn,
Motorola hits back at Icahn
Motorola hit back for the first time on Wednesday at Carl Icahn, the billionaire Wall Street investor who is seeking a seat on the struggling US mobile phone maker’s board by waging a proxy battle. Motorola,
Icahn in escalating row with Motorola board
The war of words between Carl Icahn and the board of Motorola intensified over the weekend as the billionaire investor in a letter to Motorola shareholders accused directors of incompetence, reports the Daily Telegraph.
Pots, kettles, Carl Icahn and private equity
“Cash is a great asset,” declares Carl Icahn, a man who has had some success amassing the stuff. “But if private equity investors get their hands on it, they’ll reap the benefit instead of the shareholder,”
Motorola shares leap as Icahn seeks board seat
Carl Icahn, the veteran activist investor, chose Motorola as his latest target, sending the company’s share price higher and increasing pressure on management at the struggling US telecoms equipment maker.