Grey Vote That Could Keep Kaczynski Twins In Power The leaflets, handed out in Nowy Swiat (New World), a swish Warsaw shopping boulevard, give cheeky advice: lock the elderly in their lavatories tomorrow to prevent them voting for Jaroslaw Kaczynski... Read Full Article In Cyberspace They Can’t Hear You Scream A keyboard is all terrorists need in their quest to deliver mass chaos and destruction.... Read Full Article An Afghan’s Path From Ally Of U.S. To Drug Suspect The pitfalls of the government’s use of informants with questionable backgrounds are illustrated by the case of an Afghan drug lord and Taliban ally.... Read Full Article Top Military Lawyer Non-committal On Waterboarding As Torture The chief legal officer responsible for military commissions at the Guantanamo Bay US prison refuses to say whether water-boarding is torture.... Read Full Article State Of The Art: The IPhone Matches Most Of Its Hype Apple’s new phone does so many things so well, and so pleasurably, that you tend to forgive its foibles.... Read Full Article |
Cerberus Seeks Court Ruling To End DealCerberus Capital Management, still trying to scuttle its $4 billion purchase of United Rentals Inc., said yesterday that it had filed a request for declaratory judgment in New York State Supreme Court. Cerberus, a New York private investment firm, reiterated its argument that it is liable for only $100 million in damages if it terminates the deal, valued at $7 billion including the assumption of debt. United Rentals, in a statement late yesterday, said again that it “stands ready to complete the merger transaction on the agreed-upon terms.” United Rentals, which filed a lawsuit this week trying to force Cerberus to go through with the transaction, has said Cerberus must either give a justifiable cause for backing out of the deal or complete the purchase. The dispute is the latest example of a leveraged-buyout deal falling victim to havoc in the credit markets. For months, buyout shops have been walking away from deals to buy companies, including the Acxiom Corporation and Harman International Industries. The United Rentals dispute has been brewing privately for months, according to letters between the companies. Even though the deal was struck after turmoil began in the credit markets in June, a Cerberus executive, Steven F. Mayer, wrote to United Rentals’ general counsel, Roger E. Schwed, on Aug. 31 seeking a discussion about the terms. The request was prompted by “our concerns about recent unanticipated developments in the credit and financial markets.” United Rentals replied that financial market turmoil was specifically excluded as an escape clause in the merger agreement. Tag CloudExternal InformationAdditional InformationDrilling Down: TV Viewing, Through the Lens of Politics...Advertising: Campaigning Not for Your Vote but for Your Dollar... Sakhalin-2 cut set to hit Shell’s expansion hopes... Liberty Media Chief Testifies in IAC Trial... Where Am I?News Main Page - Business - Cerberus Seeks Court Ruling To End Deal |
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