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Lazard Ltd

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  • The White House last week announced Antonio Weiss, a top official at investment bank Lazard, as Obama's choice to be the Treasury's under secretary for domestic finance. An aide to Senator Dick Durbin, the No. 2 Senate Democrat, said the lawmaker opposes Weiss because of Lazard's work advising on recent high-profile inversions. Congress is only in session for a...

  • LONDON, Nov 13- Apollo Global Management is planning to bid for all GlaxoSmithKline's mature drugs, joining an auction expected to value the business at more than $3 billion, according to four people familiar with the process. GSK, Britain's biggest drugmaker, is looking to divest its mature prescription medicine products sold in North America and western...

  • NEW YORK, Nov 4- At least three oil companies are still actively bidding for Citgo Petroleum Corp, the U.S. refining arm of Venezuela's PDVSA, even after the country's finance minister said that the auction was no longer going ahead, according to three people familiar with the situation. The investment bank hired by PDVSA to conduct the sale, Lazard Ltd, has not ended...

  • HOUSTON, Oct 27- Venezuela's surprise move to scrap the sale of its U.S. refining unit Citgo was prompted when bids came in well below its $10 billion asking price, and sovereign and corporate bondholders criticized selling a reliable source of cash during a liquidity crunch, a source familiar with the situation said on Monday. State oil company PDVSA had hired...

  • UPDATE 2-Higher advisory fees drive Lazard profit beat Thursday, 23 Oct 2014 | 10:13 AM ET

    Oct 23- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit as it earned more fees from advising on M&A deals amid a surge in cross-border transactions. German companies were at the forefront of a slew of large cross-border deals in September, such as the $17 billion takeover of U.S.-based Sigma-Aldrich Corp by...

  • Oct 23- Investment bank and asset manager Lazard Ltd reported better-than-expected quarterly profit and revenue due to a jump in M&A advisory fees and an increase in asset management revenue. Among the big deals Lazard advised on during the quarter were Siemens AG's $7.6 billion acquisition of oilfield equipment maker Dresser-Rand Group Inc and chemical...

  • Lazard profit rises 48 pct on higher advisory fees Thursday, 23 Oct 2014 | 6:23 AM ET

    Oct 23- Lazard Ltd reported a 48 percent rise in quarterly profit due to a jump in advisory fees from higher M&A activity and an increase in asset management revenue. The company's net profit rose to $89 million, or 67 cents per share, in the third quarter ended Sept. 30, from $60 million, or 45 cents per share, a year earlier. Among the big deals Lazard advised on during the...

  • Oct 22- A consortium of buyout firms Advent International Corp and Avista Capital Partners is in advanced talks to acquire UCB SA's U.S. generic drugs unit Kremers Urban Pharmaceuticals Inc, according to people familiar with the matter. Advent and Avista have prevailed in an auction for Kremers Urban, which attracted interest from other private equity firms...

  • *FTSE 100 has lost over 8 percent since Sept. 4. The decision to scrap the offering, which could have valued the firm at about 800 million pounds, casts a shadow over the prospects of the bigger and more widely known Virgin Money, another bank seeking to list this month. Aldermore and Virgin are among so-called challenger banks which the government hopes can break the...

  • LONDON, Oct 14- GlaxoSmithKline is seeking binding bids by next month for a range of older drugs worth more than $3 billion, which it is likely to sell by geographical region, according to people with direct knowledge of the process. Britain's biggest drug maker is looking to divest the mature products in a bid to improve its growth profile and wants to dispose of...

  • NEW YORK/ HOUSTON, Oct 9- Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for...

  • NEW YORK, Sept 28- NiSource Inc on Sunday announced its board had approved plans to split into two publicly traded companies, separating its utilities and pipeline businesses. Under the plan, NiSource will list its natural gas pipeline division as Columbia Pipeline Group, which is expected to trade on the New York Stock Exchange under the ticker "COLP."

  • NEW YORK, Sept 28- NiSource Inc on Sunday announced its board had approved plans to split into two publicly traded companies, separating its utilities and pipeline businesses, with the new company taking the form of a master limited partnership.

  • FRANKFURT, Sept 22- Germany's Siemens AG has agreed to buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion in cash, paying a relatively rich price to belatedly beef up its presence in the U.S. shale oil and gas industry.

  • HOUSTON, Sept 22- The fast-changing nature of crude oil flows in the Americas means only one of three Citgo refineries in the United States will generate keen interest among buyers as Venezuela's cash-strapped state-run PDVSA looks to sell its U.S. unit, and it may fetch less money than hoped, experts say.

  • NEW YORK, Sept 9- Venezuela's state-run oil company PDVSA is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.

  • Alibaba IPO legal fees dwarf Facebook's Friday, 5 Sep 2014 | 8:09 PM ET

    Sept 5- Alibaba Group Holding Ltd disclosed on Friday that it would pay $15.8 million in legal fees to law firm Simpson Thacher and other attorneys who advised the Chinese e-commerce giant on its upcoming IPO, six times what Facebook paid its counsel two years ago.

  • PRESS DIGEST-Sunday British Business - AUG 31 Sunday, 31 Aug 2014 | 9:28 AM ET

    LONDON, Aug 31- British newspapers reported the following business stories on Sunday. GlaxoSmithKline is facing a shareholder revolt over plans to shake up its board, with leading investors calling for the speedy departure of Chairman Christopher Gent.

  • Aug 22- Power company Dynegy Inc said on Friday that it would buy coal and gas power plants for $6.25 billion to increase its presence in two less regulated eastern U.S. markets. Dynegy shares rose as much as 22.5 percent in early trading.

  • Aug 22- U.S. power company Dynegy Inc said on Friday that it would buy coal and gas generation assets from Duke Energy Corp and Energy Capital Partners, in two deals totaling $6.25 billion.