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.

Dynergy Rejects $603 Million Takeover Bid from Blackstone

Shares of energy company Dynergy fell after its shareholders rejected a $603 million takeover bid from an affiliate of The Blackstone Group, a private-equity firm. Will investors Carl Icahn or Seneca Capital bid for the Houston company?

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.