Please say a prayer for the future of American journalism. No, not because Rupert Murdoch has agreed to buy Dow Jones – but because “the world’s only reliable newspaper” is closing its doors after nearly 30 years of service. That paper, of course, is World Weekly News – which has scooped the MSM on such […]
Conventional wisdom is that equity sponsors are desperate to see their “hung” buyouts close, in the face of crunched credit and the corresponding possibility that certain banks might jump the bridge. And I don’t doubt it – as no one wants to put several months of work into a deal that falls apart due to […]
TXU shareholders should hold on to their proxy postage, as Thomson Financial is reporting that the company’s $45 billion buyout could be on the verge of collapse. The report says that banks led by Citigroup are thinking long and hard about reneging on their $37.2 billion in debt financing commitments, which included $25.9 billion in […]
The Dow is plunging, credit is crunching and new high-yield issues are looking less likely than a victory in Iraq. If only there was a way to pin it all on Blackstone… But here’s the thing: This isn’t yet the perfect storm that could destroy the buyout rush. All of the above are certainly elements, but […]
Goldman Sachs has just two weeks left atop the buyout throne, after which its $20 billion fund will be eclipsed by a $22 billion entry from The Blackstone Group. But Goldman isn’t sulking. Instead, it plans to form the largest-ever mezzanine fund. Buyouts Magazine reported on its website that GS Mezzanine Partners is targeting $7 […]
It seems I’m failing at this whole “vacation” thing. I’m set to appear on CNBC’s Squawk Box program at 8:10 this morning, to discuss the second-half private equity outlook. In short, I’m optimistic that the heady dealflow pace will continue. The industry is being faced with a number of challenges — tax law scrutiny, bond […]
The Wall Street Journal today asks if the private equity deal frenzy is nearing its end, and then quotes private equiteers who answer affirmatively. But it neglects to add a colossal qualifier: They don’t mean it. In most cases, it’s just lip service. Like when Red Sox players say that they’re still worried about the Yankees […]
Thomson Financial has just released an M&A and Private Equity Snapshot, for year-to-date 2007. Here it is: M&A Snapshot.xls Bullet points include: * Private Equity M&A accounts for 20.5% of year-to-date M&A activity, up nearly 4 percentage points from last year at this time. Private Equity activity in the U.S. accounts for 35% of overall […]
Goldman Sachs and SBI Holdings today announced a joint investment program, which will deploy approximately $820 million for mid-sized Japanese companies over the next three years. And it seems that Goldman might already have some targets. According to a May 17 client research report, Goldman has identified 64 listed Japanese companies that it believes would […]
All the private equity rage today is Alltel Corp., which agreed to be acquired for $27.5 billion by TPG and Goldman Sachs. If successful, it would be the eighth-largest leveraged buyout in history – sandwiched between pending deals for First Data and Clear Channel. Here are the top ten leveraged buyouts in history, according to […]
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