Bid/ask: T. Rowe Price re­pays in­vestors for a flub; Pelé sells a World Cup medal

Bloomberg Businessweek (North America) - - Contents - By Karen Weise


T. Rowe Price com­pen­sates clients for a flawed proxy vote. Although the fund com­pany was among those claim­ing that a $ 24.9 bil­lion buy­out of Dell un­der­val­ued the com­puter maker, T. Rowe mis­tak­enly sup­ported the trans­ac­tion. The pay­ments cover the dif­fer­ence be­tween the $13.75 per share the com­pany paid and the $17.62 per share a Delaware court ruled should have been the deal’s fair value.


Qatar buys a big build­ing in Singapore. The coun­try’s sov­er­eign wealth fund agreed to pur­chase the 43-story Asia Square Tower 1. It’s the big­gest of­fice sale in Singapore’s his­tory.


A de­vice maker gets some back­bone. Zim­mer Biomet Hold­ings, one of the largest U.S. man­u­fac­tur­ers of re­place­ment hips and knees, agreed to buy LDR Hold­ing, which makes spinal de­vices.


Devon sheds fields. Devon En­ergy agreed to sell gas fields in Texas and Ok­la­homa and roy­al­ties in the north­ern Mid­land Basin. The com­pany is di­vest­ing as­sets to re­duce its debt.


A fracker taps the mar­ket. Shale driller WPX En­ergy is­sued 49.5 mil­lion new shares to raise money for more wells, ac­qui­si­tions, and pipe­line con­struc­tion.


An Ital­ian soc­cer club gets a new con­trol­ling share­holder. China’s Sun­ing Hold­ings Group will buy about 70 per­cent of In­ter Mi­lan. Pres­i­dent Xi Jin­ping wants to make China a soc­cer power.


Roth­schild chases fam­i­lies with beau­coup bucks. The merger ad­viser is buy­ing Fi­nan­cière Martin Mau­rel to ex­pand its pri­vate bank­ing for French fam­i­lies and en­trepreneur­s.


Pelé scores. The soc­cer gi­ant sold his win­ner’s medal from his first FIFA World Cup. He’s auc­tion­ing more than 2,000 pieces of mem­o­ra­bilia and do­nat­ing some pro­ceeds to a chil­dren’s hospi­tal.

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