Paul Kranhold News
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Private equity, an investing trade plied by 4,500 firms with $3 trillion in assets, is bracing for a shakeout that’s been brewing since the collapse of credit markets choked off a record leveraged-buyout binge.
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Stephen Wynn stepped off his private jet at Manila airport in June 2010 to be greeted by the Philippines gaming regulator. On the tarmac too, in black wraparound sunglasses and trademark 1950s-style slicked-back hair, was Japanese slot-machine billionaire Kazuo Okada.
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Diamond Foods Inc.’s decline after a report that director Joseph Silveira committed suicide may further complicate its proposed deal to buy the Pringles snack brand from Procter & Gamble Co.
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Paul Clement is poised to make a deeper imprint on American law this year than anyone without the title “justice,” Bloomberg News’s Greg Stohr reports.
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Peet’s Coffee & Tea Inc. has investors wagering rival bidders will attempt to top a $1 billion takeover offer that’s already the most expensive U.S. beverage deal.
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Elevation Partners LP, the private- equity firm whose founders include Bono and Roger McNamee, is seeking $1 billion for its next buyout fund, according to a person familiar with the matter.
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Diamond Foods Inc., undergoing an internal probe into whether money paid to walnut growers violated accounting rules, plunged the most ever after the Wall Street Journal reported that farmers questioned payments.
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Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
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Diamond Foods Inc.’s board was accused in a retirement fund’s lawsuit of tarnishing the snack and nut company’s reputation and causing it to misrepresent its current and future financial condition.
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Elevation Partners LP’s $460 million investment in Palm Inc. got rescued yesterday when Hewlett-Packard Co. agreed to buy the money-losing phone maker.
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