TORONTO (Reuters) – Teranet Income Fund (TF_u.TO: Quote, Profile, Research, Stock Buzz) said on Friday it has formed a special committee to examine a hostile takeover bid by Borealis Infrastructure Management, worth more than more than C$2 billion ($1.9 billion). Borealis, an investment unit of OMERS, one of Canada’s largest pension plans, said on Thursday […]
LONDON, Sept 5 (Reuters) – The private equity consortium rebuffed in its bid for British publishing group Informa Plc (INF.L: Quote, Profile, Research, Stock Buzz) could return with a slightly higher offer, a source close to the situation told Reuters on Friday. The publisher of the shipping publication Lloyd’s List on Thursday rejected a reduced […]
Advento Participacoes SA, a Brazilian provider of specialty engineering services in Brazil, has raised R$60 million (US$38.6m) from AIG Brazil Special Situations Fund II. The deal also gives AIG the option to invest an additional R$20 million.    PRESS RELEASE AIG Investments today announced a R$60 million (US $38.6 million) investment in Advento Participacoes S.A. […]
Instead of focusing on one deal, I’ve briefly covered a handful of the week’s most interesting transactions. After the gushing font of deal activity this week, it was hard to pick just one. After the jump, read about The Flip-Floppers, The Cross Border Challenge, The Redeemer and The Repeat Offender. Plus, an honorable mention.
BARCELONA (Reuters) – The spectre of further credit losses is hanging over Europe’s leveraged loan market, which is unlikely to see any significant recovery before the end of 2009, senior bankers and investors said on Thursday. “It will be 2009 before any modicum of real confidence returns to the market,” a head of European leveraged […]
TORONTO (Reuters) – Units of Teranet Income Fund (TF_u.TO: Quote, Profile, Research, Stock Buzz) soared as much as 20 percent on Thursday, after an investment unit of one of Canada’s largest pension plans said it will offer more than C$2 billion ($1.9 billion) in cash for for the e-commerce firm. Borealis Infrastructure said it plans […]
NEW YORK (Reuters) – Department-store chain Mervyn’s Holdings LLC has sued its former private-equity owners, saying the firms stripped out real estate then leased it back to Mervyn’s at higher rates, pushing it into bankruptcy, according to court documents. Mervyn’s was purchased in 2004 by a group of investors including Cerberus Capital Management and Sun […]
We’ve written ad nauseam about the lousy exit market, but every now and then there’s a PE-backed company just ripe for the profitable picking. Today that company is National Default Exchange, a Texas-based provider of processing services for mortgage defaults, foreclosures and bankruptcy administration. Talk about being situated at the top of a market cycle.
The Forbes 100 Most Powerful Women list is out, but representation from the American financial sector feels lackluster. Sheila Bair of The FDIC ranks high at number two (second to German Chancellor Angela Merkel). And Ho Ching of Temasek represents at eight. You could blame the paucity on particularly bad years for Erin Callan and […]
HONG KONG, Sept 4 (Reuters) – CVC Asia Pacific withdrew its indicative offer for shares in Peace Mark (0304.HK: Quote, Profile, Research, Stock Buzz), Reuters Basis Point reported on Thursday, but the Hong Kong-based watchmaker said it had received another offer. Peace Mark, in a meeting with existing lenders last Tuesday had indicated that CVC […]
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