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Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer.
Investor Carl Icahn on Friday raised his offer for the senior notes of bankrupt CIT Group to $650 per $1,000 of principal notes tendered.
A U.S. bankruptcy judge set a December 8 hearing to consider approval of CIT Group Inc's reorganization plan, aiding the large commercial lender's effort to emerge from bankruptcy by year's end.
A U.S. bankruptcy judge set a December 8 hearing to consider approval of CIT Group Inc's reorganization plan, aiding the large commercial lender's effort to emerge from bankruptcy by year's end.
CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans.
CIT Group has met at least one of the hurdles necessary to file for a prepackaged bankruptcy, sources said, bringing the commercial lender one step closer to the fast bankruptcy process it is seeking to lower its liabilities and get back to health.
Billionaire investor Carl Icahn, who had been trying to derail CIT Group Inc's efforts to launch a restructuring plan, said on Friday he was now backing the lender's pre-packaged bankruptcy, making a filing as soon as this weekend more likely, analysts said.
Billionaire investor Carl Icahn, who had challenged CIT Group Inc's restructuring plan, said on Friday he was now backing the company's pre-packaged bankruptcy and would provide an additional $1 billion in credit to the lender.
Billionaire investor Carl Icahn, who had challenged CIT Group Inc's restructuring plan, said on Friday he was now backing the company's pre-packaged bankruptcy and would provide an additional $1 billion in credit to the lender.
CIT Group is likely to file for bankruptcy in the coming days, analysts and experts said.
Commercial lender CIT Group Inc , teetering on the brink of bankruptcy, said on Wednesday it has secured $4.5 billion of additional financing.
Billionaire investor Carl Icahn on Tuesday offered CIT Group's small bondholders protection of the value of their debt if these investors support his effort to block the lender's reorganization plan.
Billionaire investor Carl Icahn said on Tuesday he will offer to smaller holders of CIT Group's debt short-term protection against the value of the debt declining, if investors back his alternative restructuring of the beleaguered lender.
Billionaire investors Carl Icahn said on Tuesday he will offer smaller holders of CIT Group's debt short term protection against the value of the debt declining, if investors back his alternative restructuring of the beleaguered lender.
CIT Group Inc has extended and sweetened its debt exchange offer for some of its bondholders, the lender said in a regulatory filing on Monday.
Billionaire activist investor Carl Icahn gave up his seat on the Yahoo Inc board of directors on Friday, closing a tumultuous chapter in the Internet company's 15-year history.
Billionaire activist investor Carl Icahn gave up his seat on the Yahoo Inc board of directors on Friday, closing a tumultuous chapter in the Internet company's 15-year history.
CIT Group Inc warned bond holders that if they failed to exchange their debt or approve a prepackaged bankruptcy, the commercial finance company -- and its debt investors' returns -- could suffer mightily.
Activist investor Carl Icahn resigned from the board of Yahoo Inc on Friday, a little more than a year after winning a seat in the wake of its protracted takeover talks with Microsoft Corp .
Activist investor Carl Icahn resigned from the board of Yahoo Inc on Friday, a little more than a year after winning a seat in the wake of its protracted takeover talks with Microsoft Corp .
Investor Carl Icahn said late Friday he has resigned from the board of directors at Yahoo Inc., saying that there was not a need at this time for an activist investor at the internet company. Icahn said in a statement that there were a number of other companies on which he is currently focused, and praised the company's recent search and advertising partnership with Microsoft Corp.
