News and Analysis

NEW YORK (Reuters) – Emdeon Inc (EM.N) rose 6.6 percent in its trading debut on Wednesday while Starwood Property Trust Inc (STWD.N) recovered in the last minutes of trading to end that day flat after their respective initial public offerings. Emdeon shares closed their first day of trading on the New York Stock Exchange at […]
Monday was the last day for comments on the FDIC's proposed rules for private equity investments in failed banks. A group of large private equity firms calling themselves the "Private Equity Commenters" submitted a letter, which we've posted below. The letter, submitted by law firm Simpson Thacher, speaks for Blackstone Group, Centerbridge Partners, Corsair Capital, Irving Place Capital, Lightyear Capital, Oak Hill Capital Partners and TPG Capital. A few of the firms have already been involved in banking transactions--Blackstone and Centerbridge were part of the group that took over BankUnited. The letter addresses the same concerns many others have expressed regarding required capital levels, cross-guarantee liabilities, and the definition of "source of strength," among others, while highlighting the benefits of private investments in banks. Those include job preservation, community support and increased competition which benefits customers, the letter states. At around 11 pages, it's probably the most in-depth response the FDIC has recieved to date. Read it in full below.
TOKYO/HONG KONG (Reuters) – Buyout funds including Permira and KKR have been told to submit their first bids by September 1 for Citigroup Inc’s (C.N) Bellsystem24, a leading Japanese telemarketer, in what might be the largest private equity deal in Japan this year, sources familiar with the process said on Wednesday. The transaction, expected to […]
NEW YORK (Reuters) – Emdeon Inc (EM.N) became the latest company to see its shares soar following an initial public offering, with shares jumping 13 percent in their debut on Wednesday. In morning trading on the New York Stock Exchange, Emdeon shares were changing hands for $17.52, or 13 percent over the IPO price of […]
InterMedia Partners reportedly has agreed to acquire Vibe, a hip-hop magazine that shut down last month after being unable to restructure its debt. InterMedia will relaunch Vibe as an online-only publication, under its Uptown Media platform. Wicks Group of Cos. was Vibe’s most recent owner, having bought it from Freeman Spogli in 2006. PRESS RELEASE […]
Cinedigm Digital Cinema Corp. (Nasdaq: CIDM) has raised $75 million from Sageview Capital. The recapitalization includes five-year senior notes with warrants to purchase common stock. Imperial Capital advised Cinedigm, which digital and networked entertainment solutions for movie theaters.
NEW YORK (Reuters) – Starwood Property Trust Inc (STWD.N) priced shares for $20 on Tuesday and twice boosted the number of shares offered in what is likely to emerge as the largest U.S. initial public stock offering of the year. Starwood Property, a unit of private equity firm Starwood Capital Group, sold 40.5 million shares, […]
HONG KONG (Reuters) – Wumart Stores Inc (8277.HK) said on Wednesday it will sell an 11 percent stake to U.S. private equity firm TPG and a Chinese investor for HK$1.65 billion ($213 million), the latest sign of foreign interest in China’s fast-growing retail sector. Wumart said it would sell the stake by issuing Hong Kong-listed […]
NEW YORK (Reuters) – Emdeon Inc (EM.N) priced shares for $15.50 in its initial public offering on Tuesday, at the top of the estimate range, and increased the number of shares sold by 10 percent, one of the deal’s underwriters said. Emdeon sold 23.7 million shares and raised about $365.7 million in an IPO led by […]
NEW YORK (Reuters) – Cumberland Pharmaceuticals Inc (CPIX.O) shares opened flat in their trading debut on Tuesday following the drugmaker’s initial public offering, and edged lower by midday. The stock began trading at $17 — the level at which it priced on Monday evening — and jumped as high as $17.75 before falling 7 cents, […]
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