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TELECOM
Powerwave buys Sweden's Allgon
The mobile gear firm will pay $407 mil for LGP Allgon, a maker of wireless network gear. The offer equals a 38% premium based on Allgon's closing price on the Stockholm exchange. Powerwave predicted the deal would boost profit right away, but analysts called the forecast too optimistic. Powerwave fell 2%.
MUTUAL FUNDS
20-year-old running asset fund
Frontier Equity Fund says Chris Lahiji has a keen sense of the market. Though he lacks experience or a college degree, the fund picked him to manage $500,000 in assets. Frontier hired Lahiji after his mock fund earned a 170% return in a year, outpacing its own 12% return. Since coming aboard, Lahiji's parents have invested $100,000 in the ...