A $2.5 Billion Vice
Vice Media, which started as a tiny free magazine in Montreal, raised $500 million in a pair of deals that value the company at $2.5 billion. The investments, which come after talks about a deal with Time Warner's HLN cable network fell apart, were from A&E Networks and venture capital firm Technology Crossover Ventures. Each company invested $250 million in return for a 10% stake.
Anonymous Documents Sent To Hedge Fund Back PetSmart Into Likely Sale
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
How One Hedge Fund's Cupcake Addiction Could Have Cost It As Much As A Million Dollars
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company's ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
Short Seller Compares Company To "Wolf Of Wall Street", "American Hustle," "Liar Liar," And "Die Hard," Stock Plummets
Citron Research released a report calling the financial practices at construction industry service provider Textura Corp. "American Hustle meets Wolf of Wall Street" and sent the stock into free fall. There was also a reference to Die Hard and Liar Liar.