Company News for April 6, 2009

• Australian billionaire Packer denied reports he is considering acquiring a stake in the Las Vegas City Center project currently jointly owned by MGM (NYSE:MGM - Snapshot Report) and Dubai World. MGM (NYSE:MGM - Snapshot Report) has hired Morgan Stanley (NYSE:MS - Analyst Report) to advise on selling various casinos to generate needed cash

• Chairman and CEO Adelson reported the purchase of 4.7 million additional shares of Las Vegas Sands (NYSE:LVS - Snapshot Report), bringing his total purchases over the past week to almost 12.6 million shares

• Reports said talks between IBM (NYSE:IBM - Analyst Report) and Sun Microsystems (NASDAQ:JAVA) broke down over the weekend on disagreement over terms of a potential deal, including the $9.40, or about $6 billion price Sun considered too low

• HSBC Holdings (NYSE:HBC - Analyst Report) shares jumped in Monday's trade on the successful response to its $18.9 billion rights offering

• GM's (NYSE:GM) Saab unit is reportedly in talks with 20 possible buyers, with a deal expected by June. The unit is seeking the write-off of about three-quarters of its non-prioritized debt.

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