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Former hedge fund portfolio manager Mathew Martoma exits a New York federal court after being charged in one of the biggest insider trading cases in history. He worked for CR Intrinsic Investors LLC, a firm that was associated with Steven Cohen's SAC Capital Advisors.
Speculation about the size of a potential deal for AEG — estimates range from $8-$10 billion — has quickly made Angelenos forget about the $2-billion-plus price that Guggenheim Baseball Management and Magic Johnson paid for the L.A. Dodgers earlier this year. Angelenos may have forgotten something else: Until Guggenheim Partners swept in from Chicago to add another half billion to the deal, the price for team was hovering around $1.6 billion and the leading bidder was Steven Cohen.
As I explained at the time, Cohen — one of Forbes' wealthiest Americans, with a net worth north of $8 billion — was one of the few bidders for the Dodgers who could basically write a check for the team. In fact, that seemed the likely outcome, until Mark Walter and Guggenheim emerged from the background. Cohen had even paired up with local L.A. billionaire Patrick Soon-Shiong, the richest guy in town. It wasn't enough in the end to trump Guggenheim's bid.
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The bleachers stand empty at Dodger Stadium in Los Angeles, California.
UPDATE: The Disney Family is also still in the running. So a total of five known and two unknown bidders.
•Tom Barrack of Colony Capital, a $30-billion L.A.-based private equity firm
•Magic Johnson, in partnership with Stan Kasten
•Jared Kushner, the boy-wonder son-in-law of Donald Trump who has so far distinguished himself by running a money-losing weekly newspaper, the New York Observer
•The Disney Family (haven't heard much about this bid, to be honest)