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...The new owner was originally cloaked by his limited liability company, but Son was revealed to be the buyer a few months after the purchase by the Los Angeles Times....
...But in October Ike Perlmutter, the head of Marvel who sold the comic book publisher to Disney in 2009 and worked there until he was fired a year ago, gave Peltz the voting rights of his Disney shares....
...Separately, the Court of Chancery last year denied a customary “books and records” request from a shareholder probing how Disney had reacted to Florida’s “Don’t Say Gay” legislation....
...To explain a bit further: Let’s imagine a company with $100 of asset value and $60 in liabilities, which leaves it with an equity value of $40....
...On Tuesday, International Paper confirmed that it had made a takeover proposal for UK group DS Smith, raising the possibility of a bidding war for the company, which has already reached a deal with Mondi...
...Kathaleen McCormick, a Delaware judge, yesterday ruled that the award was improperly approved by the electric-car maker’s board and had short-changed the company’s shareholders....
...That evolution in big groups’ attitudes to outsourcing also presents a challenge, though....
...Here, the cybernetic solution is to require private equity investors to guarantee the debts of takeover targets, sealing off the great accountability sink of limited liability....
...But the FT reported that months earlier, Merck, a German healthcare and life sciences group, had proposed buying a majority stake in the Japanese company....
...Breaches of those provisions, however, are typically capped at a small dollar amount and any liability is typically directed at the company itself....
...And Kingswood says no, in fact, the way this contract is written is that any debt at any Save Mart company or subsidiary counts as a liability, which you need to pay for....
...When succession planning goes awry, and the company is in trouble, it often makes sense for boards to turn to founders for help. Founders’ assets can turn into liabilities, however....
...“Advertisers for the sake of reputations and legal liability need to demand a heck of a lot more transparency than what they’re getting,” she added....
...Apollo has recent history in taking a run at publicly traded UK companies, although it has had limited success in getting deals done....
...Such a strategy involves a precise matching of long-dated assets and liabilities, not unlike a player contract with obligations stretching out decades....
...The deal will mean that existing investors in the business will probably be wiped out, including James Murdoch, who invested through his holding company Lupa Systems, Disney and private equity group TPG....
...The two-day hearing in a Delaware state courthouse was held to determine if Handler, who quit Centerview almost a year ago, is a rightful partner with the legal ability to inspect its financial books....
...a stately but cramped courtroom to make their case to Sam Glasscock, a longtime vice-chancellor of the Delaware Court of Chancery....
...The new owner’s identity was initially cloaked by his limited liability company. The Los Angeles Times revealed a few months after the purchase that Son was the buyer....
...WHSmith, the 231-year-old books and newsagent chain, offers a pertinent example....
...One thing to start: The head of Lazard in Sweden has been charged with aggravated bribery linked to a takeover of a Swiss company by engineering group Atlas Copco....
...Adani Energy Holdings Limited and its subsidiaries filed annual accounts with UK’s Companies House last month that were audited by Ferguson Maidment & Co, a small chartered accountant based on Fleet Street...
...Bob Iger, the long-serving chief executive of Walt Disney, recalls a presentation that Centerview gave to senior managers at the entertainment group several years ago....
...Disney-owned broadcaster ESPN is taking aim at the US sports betting market, teaming up with casino group Penn Entertainment to launch an app designed to crack the duopoly of DraftKings and FanDuel....
...He emphasised that Apollo seeks to match its assets and liabilities from a duration point of view, unlike most banks, which borrow short and lend long....
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