BWAY Holding Co. (NYSE: BWY), a North American supplier of general line rigid containers, said that its shareholders have approved a $20 per share buyout offer from Madison Dearborn Capital Partners. The deal values BWAY at approximately $915 million (including assumed debt). Bank of America Merrill Lynch and Deutsche Bank Securities will provide leveraged financing.
Aspen Surgical Products Inc., a portfolio company of RoundTable Healthcare Partners, has agreed to acquire the surgical blades and scalpels business (Bard-Parker) of Becton, Dickinson and Company. No financial terms were disclosed.
HONG KONG/SYDNEY (Reuters) – Australia and New Zealand Banking Group Ltd (ANZ.AX), in its bid to expand its Asia footprint, has shifted its acquisition focus to Indonesia’s PT Bank Panin (PNBN.JK), according to sources, veering away from the beleaguered sale of South Korea‘s KEB (004940.KS). Australia’s No. 4 lender is the front runner for a […]
(Reuters) – Vornado Realty Trust (VNO.N) could take a stake in LNR Property Corp, owned by Cerberus Capital Management, as part of a possible debt restructuring, a source familiar with the matter said. Debtholders are discussing a possible debt-for-equity swap for the property company, that source said, confirming a Wall Street Journal report. Vornado lost […]
(Reuters) – Danish ambulance group Falck has abandoned plans for a listing on the Copenhagen stock exchange, a company spokesman said on Wednesday. “We can confirm that that there will be no listing, as of now,” Falck spokesman Jeppe Ilkjaer told Reuters. Financial daily Borsen earlier on Wednesday said Falck had called off the listing […]
RadioShack, the electronics retailer that sells tape recorders and phone extensions, is apparently getting lots of interest from the private equity community. At first blush, I was surprised that RadioShack still exists, let alone that it's up for sale. But it seems that more than a few folks still visit “The Shack,” given its 4,000+ retail locations and 555 kiosks. Goldman Sachs is running the auction, with suitors reported to include The Blackstone Group Bain Capital and TPG Capital. A sale could be valued at more than $3 billion. So why such interest in RadioShack? It’s the cash, stupid. RadioShack has is sitting on $872 million in net cash, says Anthony Chukumba, senior research analyst for BB&T Capital Markets.
TORONTO (Reuters) – A newspaper report saying the Ontario Teachers’ Pension Plan is looking to sell its stake in Maple Leaf Foods Inc
Castle Harlan has agreed to acquire IDQ Holdings Inc., an automotive aftermarket company focused on do-it-yourself automotive air conditioner repair, from Arsenal Capital Partners. No financial terms were disclosed.
(Reuters) – Three bids have been selected to move through to the final round of the auction for Royal Bank of Scotland’s (RBS.L) payment processing business, people familiar with the matter said on Tuesday. Joint suitors Advent International and Bain Capital, TPG and Clayton, Dubilier & Rice make up the bidding group, the sources said. […]
(Reuters) – Billionaire Nicolas Berggruen, the son of a well-known art collector, appears to have won a key victory in the bidding for Karstadt, the German department store chain that collapsed a year ago. A committee of Karstadt creditors chose Berggruen’s bid over rival offers from German-Swedish financial investor Triton and the Highstreet consortium, owned […]