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U.K. superfund Clara-Pensions selected Kempen Capital Management as its fiduciary manager, a spokesman confirmed.
Clara was set up to bring defined benefit assets as well as liabilities of many smaller plans together to help them move to a buyout. It is the first superfund to appoint a fiduciary…
OK STABLE tax deduction enacted
OKLAHOMA CITY â Oklahomans who save and invest using OK STABLE, the state-sponsored ABLE Act program for people with disabilities, will be able to deduct contributions from their state taxes, State Treasurer Randy McDaniel announced.
The tax deduction is identical to the one offered for contributions to the Oklahoma 529 College Savings Plan and will be in effect starting with 2021 income tax filing.
The new law allows couples to deduct up to $20,000 in contributions per year from their state taxable income. Single taxpayers can deduct contributions of up to $10,000 per year.
Under OK STABLE, Oklahomans with disabilities can save and invest money without jeopardizing need-based benefit programs such as Medicaid and Supplemental Security Income. Funds in an account can be used for qualified expenses.
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Dyal Tells Del. Justices Sixth Street Seeks A Lowball Buyback
Law360 (May 12, 2021, 7:53 PM EDT) An attorney for Dyal Capital Partners told Delaware s Supreme Court Wednesday that Sixth Street Partners was maneuvering for a lowball buyback when it launched a failed fast-track Chancery Court bid to block a $12.5 billion Dyal-Owl Rock Capital Corp. merger earlier this year.
William Savitt of Wachtell Lipton Rosen & Katz LLP, counsel to Dyal and its affiliates, told the full five-member court during a videoconference argument that Sixth Street wrongly claimed that Dyal s merger would open a conduit that could funnel crucial Sixth Street information to Owl Rock by way of their merged entity, Blue Owl Capital.
Laredo Petroleum Announces Transformative Transactions
Acquisition of High-Margin, Oil-Weighted Howard County Leasehold
Divestiture of Gas-Weighted Reserves in Reagan/Glasscock Counties
TULSA, OK, May 09, 2021 (GLOBE NEWSWIRE) Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced the signing of a purchase and sale agreement to acquire the assets of Sabalo Energy, LLC (“Sabalo”), a portfolio company of EnCap Investments L.P. (“EnCap”), and a non-operating partner for approximately $715 million, subject to customary closing price adjustments, comprised of $625 million in cash and approximately 2.5 million shares of Laredo common equity. Additionally, the Company announced the sale of 37.5% of its operated proved developed producing (“PDP”) reserves in its legacy leasehold in Reagan and Glasscock counties (“Legacy”) to an affiliate of Sixth Street Partners, LLC (“Sixth Street”) for proceeds of $405 million and additional potentia