News and Analysis

(Reuters) – Harrah’s Entertainment Inc [HAMLEH.UL], the world’s largest casino operator by revenue, reported a fourth-quarter profit on Thursday, compared with a year-earlier loss, but revenue fell 8 percent as demand in Las Vegas and Atlantic City remained weak. Hit by the economic downturn, consumers have cut back on discretionary spending like gambling trips at […]
(Reuters) – Denmark’s Danske Bank and Sweden’s SEB have joined a team of banks to launch a share offering in Danish telecom TDC for its private equity owners, sources told Reuters. The private equity firms, which hold nearly 88 percent of TDC’s stock, have appointed a consortium of a total of nine banks to sell […]
FRANKFURT (Reuters) – German chemical distributor Brenntag is aiming for an initial public offering in the first half of 2010, most likely before the Easter holidays in early April, two people familiar with the matter told Reuters. The sources added that an official announcement was set to be made later on Thursday. Brenntag had no […]
KCB Management has acquired Integrated Systems Improvement Services (ISIS), a Sierra Vista, Ariz.-based provider of specialty services to federal agencies, prime contractors and corporations. No financial terms were disclosed.
Blackhawk Specialty Tools LLC, a Houma, La.-based maker of automated top drive cement heads for the deepwater offshore oil and gas industry, has raised an undisclosed amount of equity funding from Rock Hill Capital Group.
NEW YORK (Reuters) – Blackstone Group LP (BX.N) is preparing to restructure the debt of Hilton Worldwide Inc, bankrupt investment firm Lehman Brothers Holdings Inc (LEHMQ.PK) said in court filings. The restructuring would deleverage Hilton’s capital structure by as much as $3.8 billion, Lehman said in the filings, dated Feb. 23. The plan also proposes […]
AMSTERDAM (Reuters) – HSBC (HSBA.L) has launched the 2 billion pound ($3.1 billion) sale of its British rolling stock leasing company, with financial investors seen as the most likely buyers, several people familiar with the matter said. HSBC is assuming the asset has an enterprise value of 2 billion pounds based on a staple debt […]
NEW YORK (Reuters) – A number of private equity firms put in second round bids for Dow Chemical’s (DOW.N) Styron unit a week ago, including buyout firms TPG and Apollo, several sources said. Dow, the largest U.S. chemical company, put Styron up for sale in July and said at the time the unit could fetch […]
Navigation Capital, a lower mid-market firm based in Atlanta, today acquired the first of what it hopes to be a handful of smart grid infrastructure services companies. The firm purchased Specialized Technical Services for an all-equity deal value in the range of $15 million to $30 million. Navigation Capital hopes to add several more companies to the platform, bringing STS to between $100 million and $200 million in revenue in three years. The firm used capital from its fourth fund, which, after eight deals over the past year, is 80% deployed. Navigation will likely return to market this year with a new fund targeting $150 million to $250 million in commitments. I spoke with Managing Partner and Co-Founder Larry Mock about building an industry leader in a fragmented market, turning owners into sellers, a "tsunami of demand" and ever-expanding pies.
Yesterday AMICAS Inc. responded to Merge Healthcare’s rival bid to Thoma Bravo, recommending that shareholders vote for the company’s previously agreed-upon Thoma Bravo merger instead of Merge’s higher offer. This is the second time in a year that Thoma Bravo has been outbid on an agreed-upon deal with a publicly traded tech company. Is it […]
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