Some quick hits before embarking on the return trip from Portland, Ore. to Boston… *** Today’s big LBO deal news is the possibility that Clear Channel could go private for around $18.5 billion. There are lots of angles of this deal worth discussing – high leverage multiples, family management control but not financial control, a […]
I wanted to share with other fellow readers a recent transaction closed by our investor group ($250M+ EV) in the cable & broadband industry in Central America. There has been some intense activity in this sector with other funds managed by Carlyle, Warburg Pincus, Cinven, Fintech that is worth a look. REsults by public cable […]
HCA has set a shareholder meeting date for its proposed going-private buyout: November 16 at the company’s Nashville, Tenn. executive offices. The delay had led to some speculation of leverage troubles, but now it seems that history’s second-largest LBO is close to the finish line.
I spent most of yesterday working on “big new project,” and this morning must do a bit of actual reporting (it seems I get paid to do so). So, in the meantime… Details remain sketchy on the apparent U.S. Department of Justice probe into possible collusion between private equity firms, with most journalists either rehashing […]
The buyouts market is expected to record its third-straight year of record-breaking deal volume, according to Q3 numbers released this week by Buyouts Magazine. The first three quarters of 2006 saw U.S. firms participate in a total of 770 control-stake deals valued at $181 billion in disclosed value (including leverage), compared to $198 billion for […]
Ford today announced a giant restructuring, with the big news being voluntary buyouts of hourly workers. It also said that it would not sell off any brands until new CEO Alan Mulally had been given a chance to review potential offers. Well, I can tell you that San Francisco-based Citron Capital has made a formal […]
Just some notes as I combat jetjag, following a weekend wedding in Los Angeles…  *** Draper Atlantic Ventures seems to have lost its Draper. The firm just began marketing for its $200 million-targeted third fund, under the name New Atlantic Ventures. It also has launched a new website that contains no mention of its original […]
Now that the silly Microsoft buyout talk is behind us, let’s move on to another target: Ford Motor Co., which began trading today at just $8.25 per share. For context, Toyota opened exactly $100 per share higher. The most basic problem is that Ford poured too much R&D into its gas-hungry truck and SUV division, […]
Private equity has been getting a barrage of popular press coverage, due largely to mega-deals for companies like HCA, Aramark and VNU (Kinder Morgan, for whatever reason, keeps being treated like a middle child). Most of said coverage, however, seems to have been assigned by unimaginative editors who want to know either: “Are large fund […]
I appeared on CNBC’s SquawkBox program this morning, in order to discuss The Financial Times’ inane suggestion that Microsoft could be next on the private equity shopping list. As I told the equally-skeptical anchors, Snakes on a Plane will win a best picture Oscar before Microsoft gets acquired by LBO firms. For those of you […]

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