Phillydeals http://www.philly.com/philly/blogs/inq-phillydeals RSS Feed for Inq Phillydeals en-us Fri, 18 Jul 2008 20:50:13 GMT Sidhu IPO now seeks $90M; was $150M http://www.philly.com/philly/blogs/inq-phillydeals/Sidhu_IPO_now_seeks_90M_was_150M.html Tough time to raise money, even for a bargain-hunter. Ex-Sovereign Bank chief Jay Sidhu files to raise $90M to buy banks; down from $150M sought in April filing. Teva grabs more generics: $7B for Barr http://www.philly.com/philly/blogs/inq-phillydeals/Teva_to_buy_Barr_for_7B.html Generic drugmaker Teva Pharmaceutical, based in Israel, with North American HQ in North Wales, MontCo, is rolling up smaller rivals. Latest deal with Barr Pharmaceuticals makes it a big birth-control player, too. Girard Square tower plan scrapped http://www.philly.com/philly/blogs/inq-phillydeals/Girard_Square_tower_plan_scrapped.html Developer Trinity Partners sells the $90M 75-year lease on the city-owned block to landlord SSH for what he says is a small profit. Banks and builders aren't willing to risk big projects in today's market, Trinity says. BMP Sunstone builds China pharma portfolio http://www.philly.com/philly/blogs/inq-phillydeals/BMP_Sunstone_builds_China_pharma_portfolio.html BMP Sunstone Corp., Plymouth Meeting, pays up to $4.4M for controlling stake in China antibiotics maker Zhangjiakou Shengda Pharmaceuitical Co. No casino for Spectrum site, says builder http://www.philly.com/philly/blogs/inq-phillydeals/No_casino_for_Spectrum_site_says_builder.html "Gaming is absolutely not under consideration", says Spectrum site re-developer Jonathan Cordish. BlackRock gains as others lose http://www.philly.com/philly/blogs/inq-phillydeals/BlackRock_gains_as_others_lose.html BlackRock Inc., the biggest publicly-traded asset manager, is winning new business to its bond and stock funds, even as Legg Mason and other money managers lose customers, says Bloomberg. BlackRock, which earned $1B last year, says it'll move jobs from NJ to PA and DE if it gets enough tax breaks. Angry Pakistan investors stone brokers http://www.philly.com/philly/blogs/inq-phillydeals/Angry_Pak_investors_stone_brokers_regulators.html The story raises other interesting questions about how they do things on the other side of the world, such as: How was that ex-bank employee who's protesting market losses able to retire at 45? SEC steps in front of bank short trades http://www.philly.com/philly/blogs/inq-phillydeals/SEC_steps_in_front_of_bank_short_trades.html Too Big to Fail? department: In Washington, even the Securities and Exchange Commission is trying to bail out Fannie Mae, Citigroup, and other troubled lenders. The SEC is making life harder for short-sellers who bet stocks will fall. But the Is the SOx corporate accounting law doomed? http://www.philly.com/philly/blogs/inq-phillydeals/Is_the_SOx_corporate_accounting_law_doomed.html That's what UBS's top lobbyist tells Bloomberg News, citing a pending court case. Taller tower: They can't build it unless somebody comes http://www.philly.com/philly/blogs/inq-phillydeals/Taller_tower_They_cant_build_it_unless_someone_comes.html Planners mull changes for American Commerce Center tower. Still no sign of prospective tenants for the 1,500-foot tower.