The New York Post opens the kimono of Cablevision Systems: it turns out that the Dolan family's plan to take the company's cable systems unit private in a $7.9 billion deal is already in trouble. New Jersey-based Penn Capital Management, which owns 0.04% of the company (86,000 shares), sued to block the plan, claiming that the buyout offer was "triggered by a family feud" and that "Cablevision should have the corporate opportunity to sell those assets to the highest bidder."

Wall Street deal advisors (who are paid as a percentage of the total transaction size), meanwhile, seem content to let the two sides battle, pushing up all the banking and legal fees. In Wall Street jargon, there's "incremental value that the Dolans' offer has left on the table."