Oracle sued long time rival SAP AG yesterday for what it called "corporate theft on a grand scale." Oracle claims that SAP used customers' online access codes to copy thousands of Oracle software products onto its own servers. In the past three years, Oracle has spent $20 billion buying up other rivals to challenge SAP's dominance in the business software market.
Blackstone, the largest private-equity firm in the nation, filed for a $4 billion initial public offering yesterday. Blackstone said in its filing that it's going public to seek new sources of permanent capital, to add to its compensation package, and to boost the firm's brand. The IPO will offer the first in-depth look into Blackstone's closely guarded business.
General Electric said today that it's launching a $1.14 billion takeover bid for Japanese leasing firm Sanyo Electric Credit. GE is already a big player in Japan's leasing market and serves large and medium-sized companies. The addition of Sanyo, which focuses on small companies, would help GE expand its customer base. Just two weeks ago, GE announced plans to shut down 60 percent of its consumer finance branches in Japan due to industry-wide struggles induced by closer regulation.
Carl Icahn is still lobbying for a seat on Motorola's board, and has raised his stake in the mobile phone maker, according to a proxy filing submitted yesterday. Ichan announced he was seeking a board seat last January to pressure Motorola into buying back more of its shares. Motorola said earlier this month that it would not endorse a nomination of Icahn to join the board and urged shareholders to reject Icahn's proposal.