Edition:
United Kingdom

Jessica DiNapoli

Exclusive: WeWork considers dramatic valuation cut in IPO

12:34am BST

WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday. | Video

Purdue Pharma reaches tentative opioid settlement with some: sources

12 Sep 2019

NEW YORK OxyContin maker Purdue Pharma LP reached a tentative agreement with some plaintiffs to resolve litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing the settlement offer in bankruptcy proceedings as soon as next week, people familiar with the matter said. | Video

EXCLUSIVE-Purdue Pharma nears partial opioid settlement, bankruptcy filing -sources

11 Sep 2019

NEW YORK, Sept 11 OxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said.

EXCLUSIVE-Purdue Pharma nears partial opioid settlement, bankruptcy filing -sources

11 Sep 2019

NEW YORK, Sept 11 OxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said.

UPDATE 1-Private equity firm Catalyst now holds about 16% of Hudson's Bay shares

10 Sep 2019

NEW YORK, Sept 10 Catalyst Capital Group Inc holds roughly 16% of Hudson's Bay Co shares after investors took part in its tender offer, bolstering the buyout firm's position against a take-private deal, according to a Canadian securities filing made on Tuesday.

Activist investor Driver Management presses anew for First United Bank to sell itself

04 Sep 2019

Driver Management Company LLC, an activist investor focused on U.S. banks, renewed calls on Wednesday for First United Corp , the holding company for Maryland community bank First United Bank & Trust, to sell itself.

Exclusive: OxyContin maker prepares 'free-fall' bankruptcy as settlement talks stall

04 Sep 2019

OxyContin maker Purdue Pharma LP is preparing to seek bankruptcy protection before the end of the month if it does not reach a settlement with U.S. communities over widespread opioid litigation, three people familiar with the matter said, after some states balked at the company's $10 billion to $12 billion offer in August to end their lawsuits as part of a negotiated Chapter 11 case. 

Hudson's Bay to sell Lord + Taylor for $100 million

29 Aug 2019

Hudson's Bay Co said on Wednesday it would sell its Lord + Taylor department store business to fashion rental service company Le Tote Inc for about $100 million, as the retail operator culls its portfolio to a few key brands. | Video

Purdue Pharma in discussion on $10 billion-$12 billion offer to settle opioid lawsuits - sources

28 Aug 2019

OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 opioid lawsuits against the company for $10 billion to $12 billion (£8.1 billion to £9.8 billion), two people familiar with the matter said on Tuesday. | Video

BlackRock takes aim at CEOs serving on other companies' boards

27 Aug 2019

NEW YORK BlackRock Inc is stepping up opposition to U.S. CEOs who sit on more than one corporate board beside their own, arguing that working as a director takes increasingly more time, a report from the world's largest asset manager showed on Tuesday.

World News