August 13, 2002 |
Carl C. Icahn's High River Limited Partnership boosted its offer to buy as much as $331 million of the senior secured loans of XO Communications Inc., a telephone and Internet service provider that filed for bankruptcy protection earlier this year. High River said it will pay 70 cents on the dollar for the loans, an offer that expires Friday. XO, which was founded by Craig McCaw, filed for Chapter 11 bankruptcy protection in June.
November 5, 2005
* Aleris International Inc., a maker of aluminum sheets from recycled metal, said it would stop work next year at a plant in Carson where it employs 163 workers. * Time Warner Inc. may have its long-term credit rating cut by Moody's Investors Service after announcing plans to increase its debt relative to profit. The three biggest ratings companies now are considering downgrading Time Warner's debt. * Microsoft Corp.
June 13, 2003 |
Carl Icahn's XO Communications Inc. said it might offer $700 million in cash for Global Crossing Ltd. after an initial offer, which included notes and warrants, was spurned by creditors of the ailing optical network operator. XO said it also might offer $472.5 million for the company's bank debt, on the condition Global Crossing cancels an agreement to sell control to Singapore Technologies Telemedia.
June 27, 2003 |
XO Communications Inc., ratcheting up the bidding war for Global Crossing Ltd., offered $200 million to Global bondholders to get them to back its bid for the company, sources familiar with the situation said. XO, a regional telephone company looking to expand globally, is adding the $200 million to its existing $495-million bid for Global Crossing's bank debt. Global Crossing, which filed for Bankruptcy Court protection in January 2002, previously agreed to sell a 61.
June 3, 2003 |
Singapore Technologies Telemedia has a binding contract to buy Global Crossing Ltd. that forbids the telecom firm, which is in bankruptcy proceedings, from considering an offer from investor Carl Icahn, a source close to the deal said. Billionaire Icahn's U.S.-based XO Communications Inc. said Friday that it offered more than $700 million to buy Global Crossing. That compares with the $250 million that state-controlled telecom group ST Telemedia has agreed to pay for a 61.5% stake in the U.S.
July 1, 2003 |
Carl Icahn's XO Communications Inc., a telecommunications company, said it now owns about $790 million of Global Crossing Ltd. bank debt as part of a plan to acquire the fiber-optic network operator. XO, based in Reston, Va., said it bought $495 million of the $2.21 billion in outstanding loans in a tender offer, adding to the $294 million it already owned. The company said it paid 22 cents on the dollar in the tender offer.