Conflict fears as Disney eyes Pixar
Directors at Walt Disney are worried about possible conflicts of interest between it and Apple Computer if Disney succeeds in buying Pixar, the animation company. Steve Jobs, the founder and chief executive of Apple, is also the chief executive of Pixar. The transaction would see Mr Jobs take a seat on Disney’s board but some directors believe that that could cause problems in negotiations over content provided by Disney to Apple’s iTunes website.
Cantor float plan
Cantor Fitzgerald intends to float BGC Partners, its London-based brokerage, later this year. The flotation could generate huge rewards for partners at BGC. who have invested in the business. It could also lead to a merger with Espeed, the Nasdaq quoted broker also controlled by Cantor, creating a business worth up to $1 billion.
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Reubens’ stake
The Reuben brothers declared a 15 per cent stake in Ultimate Leisure, the bar and club operator. The Times understands that the shares were already held by the Reubens through so-called contracts-for-difference and that their total stake, including CFDs, is 29 per cent, just below the level at which they would be forced to launch a full bid.