National Basketball Association owners unanimously approved the sale of the Milwaukee Bucks to Avenue Capital Management’s Marc Lasry and Fortress Investment Group LLC cofounder Wesley Edens for $550 million.
Former Microsoft Corp. Chief Executive Officer Steve Ballmer agreed to buy the Los Angeles Clippers for a record $2 billion as the wife of Donald Sterling pushed through the sale without gaining the approval of the embattled owner.
A group of Energy Future Holdings Corp.’s unsecured bondholders including billionaire Marc Lasry’s Avenue Capital Group are poised to walk off owning the most profitable asset of the bankrupt power producer after engineering a deal to avoid a free-for-all restructuring.
Bank of Montreal, which advised on deals involving two Canadian premier hockey teams in the past five years, is targeting North America’s sports industry to bolster its U.S. mergers-and-acquisitions business.
Newcastle Investment Corp., the mortgage-asset buyer run by Fortress Investment Group LLC, is “very optimistic” it will participate in a big investment in mortgage-servicing rights with other entities its manager oversees, Chairman Wesley Edens said.