LONDON (Reuters) – The deadline for the Cosmen-led consortium to make a formal offer for National Express Plc (NEX.L) is set to be extended for a second time so due diligence can be completed, sources close to the deal said. The UK Takeover Panel had set an extended deadline of 1600 GMT on Sept. 25 […]
Cornerstone Records Management, a portfolio company of Sterling Partners, has acquired Simi Valley, Calif.-based Information Management Storage Inc. No financial terms were disclosed.
(Reuters) – What could be the busiest week for U.S. initial public offerings in nearly two years got off to a disappointing start on Tuesday when two IPOs by real estate investment trusts created to buy distressed mortgage assets delayed the pricings of their planned IPOs. Both Colony Financial Inc (CLNY.N) and Apollo Commercial Real […]
Blackstone Group and Lion Capital will exit its investment in soft drink maker Orangina Schweppes in a $3.8 billion sale to Suntory, according to the Financial Times. The publication calculated the deal would net the firms a 30% annual return on their combined 600 million euro investment. www.oranginaschweppes.com/
Press release: Navigation Capital Partners (NCP), an Atlanta-based middle market private equity firm, has teamed with Robert Shively to target acquisition opportunities to build an industry leader in the Intelligent Infrastructure sector. NCP is seeking companies that, when combined, will enable the integration of services, software and hardware to offer a set of products that […]
MSC Software Corporation received a higher offer from third-party private equity firms to acquire all of the issued and outstanding common shares of MSC for $8.30 in cash. The bid is up from a competing bid from Symphony Technology Group’s $8.15 per share offer. MSC Software Corporation announced today that, on September 21, 2009, the […]
(Reuters) Pepsi Bottling Group Inc (PBG.N) and Catterton Partners said on Tuesday that they each made an equity investment in O.N.E., a coconut water company, just weeks after Coca-Cola Co (KO.N) took a minority stake in coconut water company ZICO Beverages LLC. Pepsi Bottling will also distribute O.N.E.’s drinks in Southern California and South Florida. […]
HONG KONG (Reuters) – GOME (0493.HK) said on Wednesday that it plans to issue 2.05 billion yuan ($300.3 million) in convertible bonds, with the proceeds to be used for the redemption and repurchase of convertible bonds and general corporate purposes. The Chinese electronics retail chain operator said the 3 percent bonds due 2014, with an […]
At Work, Are You Trustworthy? A Financier Peels Back the Curtain: More from Guy Hands, on attrition in the buyout industry, the problem with EMI, and a number of other PE-related thoughts. (NY Times) Dealscape isn't as jazzed about the article as others seem to be, and I kinda agree (as, for those frequenting the conference circuit, the interview is no wild revolution in thought leadership. Not to say I don't think Guy Hands is an interesting guy.) (Dealscape) Pessimism in private equity: Almost half of private equity chiefs believe their investors will refuse to meet legally binding commitments to supply the cash for new deals at several high-profile buy-out houses, according to a survey published on Wednesday. (FT) Fooled By Fees: Is it possible that some investors are "fooled" into investing in buyout funds? (All About Alpha via Abnormal Returns)
Privately-held Cliffstar Corp. has hired Morgan Stanley to advise it on a sale of the company, four sources familiar with the situation said. The Dunkirk, N.Y.-based private label juice maker has been widely shopped to financial suitors. Books were circulated in the past month with Morgan Stanley taking first round bids within the next week […]