| Wynn group bows out of bidding
A group led by casino mogul Steve Wynn that had expressed interest in taking over the franchise to run racing at New York's three major Thoroughbred tracks informed state officials on Friday that it has withdrawn from the bidding process. Attorneys representing Thoroughbred Racing - New York, a group that includes Wynn and real estate developers Richard Bronson and Steve Roth, sent a three-paragraph letter on Friday to Gov. Eliot Spitzer's special counsel, Richard Rifkin, that said the group did not have enough time "to prepare a proposal with the thoughtful consideration that the State of New York and the sport of thoroughbred racing deserves." In reopening the bidding process earlier this month to run racing at Aqueduct, Belmont and Saratoga, and a proposed slots casino at Aqueduct, Spitzer said that all new or amended proposals had to be in by March 31.
Alliance Boots bidding nears $22 billion
Until the check clears, it's really not a done deal. That's definitely the case with the buyout of Alliance Boots, the UK's largest drugstore chain.Originally, it looked like KKR would be the buyer, along with Stefano Pessina (who is the chairman of Alliance and owns 15% of the company). But, private equity firm Terra Firma Capital Partners has a better offer: $21.8 billion. The firm also has the financial support of the Wellcome Trust and HBOS PLC.Interestingly enough, a few hours before this bid, KKR and Pessina upped its own bid. Yes, it must be nice for Alliance shareholders. In fact, based on the activity in the stock, the betting is that there will be even more bids.Alliance does have a serious footprint, with about 3,100 stores, as well as a thriving wholesale business. Oh, and yes, there are opportunities to cut costs.
Phantoms Fifth Anniversary Jerseys Hit Auction Block
PHILADELPHIA - The Philadelphia Phantoms announced today that the team will be staging a special jersey auction beginning tonight, Monday, April 16. The team will be auctioning off its set of 24 commemorative jerseys from its Fifth Anniversary celebration in 2000-01. To celebrate the franchise's fifth anniversary, the team wore special black jerseys that are unique to that particular season. The main focal point of the jersey is the special fifth anniversary logo crest that features the Roman numeral V surrounded by the years "1996" and "2001" on the sides, with the "Phantoms" word mark above it and the Phantoms team logo below it. The Phantoms logo is also found on the shoulders. Instead of featuring horizontal striping, the jersey stripes are in a V-pattern. The jerseys have a tie-up collar, and several feature a Comcast advertising patch.
Rosebuds wither on the auction block
No one wants to gather rosebuds, it seems. For the second time in five years, the Canadian owners of Sir John William Waterhouse's Gather Ye Rosebuds While Ye May have withdrawn their large and luscious Pre-Raphaelite oil painting from auction. The painting, an oil-on-canvas allegory of the transience of youth and beauty, failed to reach what its vendors regarded as its minimum value at a Sotheby's bidding room in New York yesterday afternoon. Sotheby's catalogue had listed an expected price range of $1.75-million to $2.5-million (U.S.). Rosebuds created a sensation in 2001 when the couple took their painting of barefoot young women plucking flowers in a verdant bower to Toronto art dealer Odon Wagner, who authenticated it as a genuine Waterhouse. Just the year before, in 2000, Waterhouse had commanded the highest price for any Pre-Raphaelite painter -- $11.6-million, including buyer's premium, at a Christie's auction in London, for his painting St.
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