Jos. A. Bank Clothiers has responded to the rejection by The Men's Wearhouse of Jos. A. Bank's request for limited due diligence. It reaffirms that its proposal will remain open until November 14.
Allen Edmonds Corporation is to be acquired by an affiliate of Brentwood Associates. Goldner Hawn Johnson & Morrison of Minneapolis led the purchase of Allen Edmonds in 2006 and is selling its stake in the business.
BJ’s Wholesale Club is paying out its second dividend to investors since its sale to private equity firms Leonard Green & Partners and CVC Capital Partners two years ago, sister publication peHUB reported.
BJ's Wholesale Club is paying out its second dividend to investors since its sale to Leonard Green & Partners and CVC Capital Partners two years ago.
Toronto-based Hudson's Bay Co (TSX: HBC) has completed its buy of New York-based luxury retailer Saks Inc (NYSE: SKS) for US$16.00 per share, in a deal valued at US$2.9 billion, including debt. The all-cash transaction was financed by a combination of new debt financing, and US$1 billion of new equity issued by way of a bought deal prospectus offering of 16,050,000 subscription receipts, and a private placement of common shares and common share purchase warrants. As previously announced, affiliates of Ontario Teachers’ Pension Plan and West Face Capital contributed to the funding of the deal. HBC is backed by U.S. private equity firm NRDC Equity Partners.
Toronto-based Valuelight Ltd, a lighting fixture manufacturer and distributor providing energy-efficient solutions, has been bought by Canadian private equity firm Lynx Equity. The financial terms of the deal were not published. The acquisition of Valuelight is Lynx’s eighth so far in 2013. The Toronto-based investor group, which focuses on buying small and medium-sized businesses from owners looking to retire, has also purchased Fine Line Imports Inc, JewelPop Inc, Lotus Imports Ltd, Majestic Media Ltd, NRG Equipment Inc, Superior Road Products Ltd and Techni-Lite Systems Inc.
BlackBerry Ltd is abandoning a plan to sell itself and will raise about $1 billion from its largest shareholder and other institutional investors as it tries yet again to revive its fortunes, reports Reuters. The smartphone maker said on Monday that Chief Executive Officer Thorsten Heins would leave in about two weeks, as soon as the private placement of convertible debentures closes. His interim successor will be John Chen, the former CEO of Sybase, a database software company that SAP AG acquired in 2010. Chen, who will also be BlackBerry's new executive chairman, joined private equity group Silver Lake as senior adviser a year ago.
Toronto-based private equity firm Lynx Equity said Monday that it has bought Valuelight Limited. No financial terms were disclosed. Valuelight Limited, which is also in Toronto, is a lighting fixture manufacturer.
Spire Capital said Monday that it has sold its portfolio company Just Marketing InternationaI to Chime Communications for $76 million. Rothschild served as financial advisor to JMI in the transaction. With offices in Indianapolis, London and Hong Kong, JMI is a motorsports-focused marketing firm.
Francisco Partners said Monday that it has closed its buy of McKesson Automation from McKesson Corp. No financial terms were disclosed for the transaction, although some outlets report the value to be at $52 million. McKesson Automation has been renamed Aesynt. Based in Cranberry Township, Penn., Aesynt is a provider of pharmacy automation solutions for hospitals and health systems.