* AOL to private equity: Thanks, but no thanks

* Matt Krantz: Mini flash crashes worry investors

* Morning Call: U.S. futures point higher, London opens soft, European shares fall on debt zone worries and the Nikkei flattens.

* Francis Gaskins: Chinese IPOs are overpriced

* Scott Vincent: Is portfolio theory harming your portfolio?

* Ch-ch-changes: What’s new in John Paulson’s hedge fund portfolio

* The poster child for long-term investing: KKR is selling Primedia after 22 years

* Tweet of the Day: @ReformedBroker: Nasdaq will now trash NYSE on Facebook

* Ronald Barusch: Nasdaq may not have gotten NYSE, but it also won’t get a hostile takeover bid.

* Still not getting our daily email? Rectify that situation at: www.GetTermSheet.com

* Liz Gannes: Winklevii go for gold, say they’ll take Facebook case to Supreme Court

* It’s on: Goldman Sachs plans to challenge Blackstone Group dominance in the hedge fund-of-funds world

* Jack Shafer on the Facebook vs. Google smear: “If PR people were being paid to push the truth, they’d be called reporters.”

* It’s not bribery if you don’t get caught: U.S. Chamber of Commerce opposes Obama order that would require companies to disclose political donations when bidding for federal contracts.