Newspaper wrap-up: FTC rejects requests to investigate Intel
Posted Oct 22nd 2007 9:15AM by Eric Buscemi
Filed under: Newspapers, Magazines, Intel (INTC), Countrywide Financial (CFC), Bear Stearns Cos (BSC)
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MAJOR PAPERS:
- CtW Investment Group sent a letter to Countrywide Financial Corporation's (NYSE: CFC) Board of Directors "urging" for the resignation of CEO Angel Mozilo, reported the Wall Street Journal (subscription required).
- According to antitrust attorneys, a possible merger with a Big Pharma company may result in Biogen Idec (NASDAQ: BIIB) having to divest some overlapping assets or licensing deals in order for the deal to get approval from the Federal Trade Commission, reported the Financial Times "MergerMarket" blog.
- The Financial Times reported that Gilat Satellite Networks (NASDAQ: GILT) is working with UBS to evaluate "several strategic and private equity buyers" in buying Gilat, which could get over $500M in a sale, according to people familiar with the matter. Bids for the company are due by the end of the week, said the sources.
OTHER PAPERS:
- The New York Times reported that Chinese investment bank Citic Securities is planning to invest $1B in Bear Stearns Companies (NYSE: BSC), according to sources.
- The New York Times reported that the head of the Federal Trade Commission, or FTC, has rejected numerous requests to open an investigation into Intel Corporation (NASDAQ: INTC) for anticompetitive conduct, according to inside sources.
- The Guardian reported that world oil production peaked last year, and production will fall by half as soon as 2030, according to a report by Germany-based organization Energy Watch Group.
Tags: bear stearns, BearStearns, biib, biogen, bsc, cfc, countrywide, financial times, FinancialTimes, ft, gilat, gilt, guardian, intc, intel, newspaper, ny times, NyTimes, oil, paper, periodical, wall street journal, WallStreetJournal, wsj
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