The battle over perhaps the quickest private equity “quick flip” in history has edged closer to a lawsuit. A federal court on Nov. 17 denied a motion by Castle Harlan Inc. to toss subpoenas that seek documents regarding the firm’s rapid acquisition and sale in July of Norcast Wear Solutions, Buyouts reported earlier. On July [...]

Castle Harlan Inc. vowed July 15 to fight any complaints against it regarding what could be the quickest quick flip in private equity history, Buyouts reported. On July 6 the New York-based buyout firm, co-founded by former Donaldson Lufkin & Jenrette Inc. CEO John Castle, bought Norcast Wear Solutions, a supplier of mill liners and [...]

Pala Investments Holdings has offered to acquire Rockwell Diamonds Inc. (TSX: RDI) for $85.7 million or $0.36 per share. Pala already holds a 19.9% stake in Rockwell, which owns interests in alluvial diamond projects and properties in South Africa and the Democratic Republic of Congo. www.pala.com