Blackstone

New Age of Philanthropy: How Billionaires Are Giving Back

Today's philanthropists are increasingly uncomfortable with the "write-a-check-and-forget-about-it" model. From Bill Gates to Philip Berber, they are taking a more active role in the way their money is given and the ways in which it is spent.

Seneca Blasts Carl Icahn's Bid for Dynegy

Last week, power-plant operator Dynegy agreed to be acquired by top shareholder, Icahn Enterprises, for about $665 million. But Dynegy's second-largest shareholder, hedge fund Seneca Capital, rejected the bid, calling it "the wrong price at the wrong time for the wrong reasons."

Icahn Enterprises to Buy Dynegy for $665 million

Power plant operator Dynegy has agreed to be acquired by Icahn Enterprises for $5.50 per share in cash, or about $665 million. Dynegy has about $3.95 billion of outstanding debt, net of cash. The agreement follows a recent failed bid from private equity giant The Blackstone Group.

Blackstone and China's Bright Food Group Plan Bid for GNC

Blackstone Group (BX) and Chinese food company Bright Food Group plan to bid for GNC Holdings, Bloomberg News reported. The purchase of vitamin and nutrition- supplement retail chain GNC could be announced as soon this month, Bloomberg News said without naming its sources.

Private-Equity Firms Ask Alibaba to Join Yahoo Bid

A group of private-equity investors is calling on the CEO of Chinese Internet giant Alibaba Group to throw his support behind a buyout offer for Yahoo, Reuters reports. Alibaba founder Jack Ma is reportedly considering his options regarding the U.S. firm that holds a 40% stake in his company.

Blackstone to Invest in China Luxury Property Development

Blackstone Group (BX), a private equity firm, agreed to back a project to build luxury apartments in China. Blackstone entered into the agreement with Hong Kong property developer Great Eagle, The Financial Times reported without naming its sources. Great Eagle will build over 1,000 new homes in Dalian in Liaoning, a coastal city in northern China. The project will also include over 400 hotel rooms.

Blackstone to Take Over Bank of America Asian Real Estate Fund

The real estate portfolio is worth around $2 billion, excluding debt. Blackstone will help unwind the portfolio and will not acquire any assets from it. The real estate portfolio is worth around $2 billion, excluding debt. , The Financial Times reported. Blackstone will help unwind the portfolio and will not acquire any assets from it.

CEOs continue to rake in the cash

If your dwindling paycheck has you feeling a bit gloomy these days as you struggle to make ends meet, you can always take comfort in knowing that...