CORRECTED - Ariel Capital exits DeVry, cuts Career Education stake

(Reuters) - NEW YORK, July 10 - Chicago-based Ariel Capital
Management LLC said on Tuesday it sold its shares in for-profit
education company DeVry Inc. and sharply reduced its
stake in Career Education Corp. , another for-profit
education company.




Ariel hasn't yet reported its exit from DeVry in a
regulatory filing and won't comment further on the sale of its
stake, Ariel analyst Bob Goldsborough said.


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CORRECTED: Path for generic biologics clears U.S. Senate panel

(Reuters) - WASHINGTON - A U.S. Senate panel voted on Wednesday to set a path for generic drugmakers to seek approval of cheaper, copycat versions of expensive biotechnology medicines.




Brand-name manufacturers would receive 12 years of exclusive marketing time before generic competition could start under a bill that cleared the Senate Health, Education, Labor and Pensions Committee by a voice vote.


Read more at Reuters.com Government Filings News

Path for generic biologics clears US Senate panel

(Reuters) - WASHINGTON, June 27 - A U.S. Senate panel voted on Wednesday to set a path for generic drugmakers to seek approval of cheaper, copycat versions of expensive biotechnology medicines.



Brand-name manufacturers would receive 12 years of exclusive marketing time before generic competition could start under a bill that cleared the Senate Health, Education, Labor and Pensions Committee by a voice vote.


Read more at Reuters.com Government Filings News

Investment fund rejects revised bid for Laureate

(Reuters) - NEW YORK, June 11 - An investment firm that owns nearly 10 percent of Laureate Education Inc. said on Monday that a sweetened $3.82 billion offer from an investor group including management, Kohlberg Kravis Roberts & Co. and hedge fund SAC Capital is too low.



The investment firm, Select Equity, said the revised offer values Laureate at a deeper discount to its peers than the original offer did in January because of rises in the peers' valuations and because Laureate beat its earnings expectations. Laureate's board had accepted the sweetened offer on June 4.


Read more at Reuters.com Mergers News