Your Daily Dose of Financial News

Robins Kaplan LLP

KraftHeinz has acknowledged a failed takeover bid for Unilever. The parties remain in talks – WSJ

Pretty happy it’s Friday?  Not as much as Catalyst Hedge Futures Strategy, whose $3.4 billion fund lost $600 million in the week ending yesterday based largely on an unexpectedly strong run by the S&P 500 over the same period – WSJ

Acting SEC Chair Michael Piwowar has reportedly scaled back some of the agency’s enforcement staff’s use of delegated authority by funneling all subpoena issuance and probe initiation through the SEC’s director of enforcement – Law360

SilverLake and SoftBank have added their cash to online lender SoFi’s efforts to raise $500 million in new money to help it “shake off a tough 2016 for the online lending industry it helped pioneer” – WSJ

Breakingviews offers up some ideas on exactly what Nelson Peltz might be up to with his company’s (Trian Partners) $3.5 billion stake in P&G – NYTimes

With no revenue in 2015 or 2016, the struggling Theranos is now left with just $200 million in cash on hand—less than ¼ of the funding it raised from investors and partners from 2004-2015 – WSJ

Samsung scion Lee Jae-yong is back under arrest for corruption charges, just weeks after slipping through prosecutors’ hands after a judge ruled there wasn’t enough evidence of bribery to charge him – NYTimes and WSJ and Bloomberg

Here’s a taste of the salt bae to take you into the weekend – WSJ

Have a great weekend.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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