TORONTO (Reuters) – Finning International (FTT.TO: Quote, Profile, Research) the world’s largest Caterpillar (CAT.N: Quote, Profile, Research) equipment dealer, said on Wednesday it sold its British equipment rental business for 110.2 million pounds ($166 million) to an affiliate of Sun European Partners LLP. Finning said it would use proceeds from the sale of Hewden which […]
Spire Capital Partners has acquired Rainbow Early Education, a provider of early education services for children in the Eastern, Midwestern and Southern U.S. The deal was done in partnership with company management. No financial terms were disclosed.
WELLINGTON/HONG KONG (Reuters) – New Zealand’s Telecom Corp (TEL.NZ) is in negotiations to sell its Australian subsidiary AAPT to TPG Telecom (TPM.AX), which has bid about $400 million for the company, a source told Reuters. TPG was selected as Telecom’s preferred bidder after its offer for AAPT trumped three other bids, a source close to […]
Newsweek On The Block: Jon Meacham, the magazine's publisher, may buy the magazine. (WSJ) Also, Business Insider has somewhat insultingly (or not?) bid $1 for the title. (Business Insider) Taking Full Responsibility: Jimmy Cayne, an adult, blamed "market forces" for Bear Stearns' collapse. (Bloomberg) Don't Want an MBA? Here are some business school alternatives. (FINS) Suit Happy: CalPERS is free to sue S&P silly. (Dealbook) The $2.3 Trillion Garage Sale: Can the Fed unload all the assets it acquired during the meltdown without crashing Wall Street again? (Slate)
A few months back, I asked you to participate in our bi-annual Dealmakers Survey, which is done in conjunction with the Association for Corporate Growth (ACG). We got over 680 responses, including GPs, bankers, lenders and LPs. The top-line results reflect increased optimism, which 85% of respondents expecting an increase in M&A activity over the next six months. They also said it’s a buyer’s market. For context, only 56% predicted increased M&A activity in the year-ago survey. Respondents said that healthcare and manufacturing/distribution would experience the most activity with 20% each, followed by financial services (13%) and technology (12%). Digging a bit deeper, business services is considered the sector with the best opportunities for future buyouts, while manufacturing/distribution will be best for distressed.
Providence Equity Partners has agreed to acquire a 25% equity stake in online automotive shopping site AutoTrader.com, a subsidiary of Cox Enterprises Inc. No financial terms were disclosed. Cox was advised on the sale by Goldman Sachs.
HONG KONG/SYDNEY (Reuters) – Australia and New Zealand Banking Group Ltd (ANZ.AX) has hired Goldman Sachs JBWere and JP Morgan (JPM.N) to advise on its bid for a majority stake in Korea Exchange Bank (004940.KS), sources said on Wednesday, in what is expected to be a more than $4 billion deal. Sources told Reuters last […]
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. Bigpoint GmbH, the German online gaming portal, is considering a sale, mergermarket reported. The company hired Montgomery & Co. has to help it explore strategic alternatives after receiving inbound interest in the company. The Washington Times is for sale by its owner, Unification Church. (AP) Royal Bank of Scotland continues to seek buyers for Hanco, its ATM business.
(Reuters) – Avis Budget fired its first salvo in what could turn out to be a protracted takeout saga for Dollar Thrifty, as the dwindling number of players in the car rental market is likely to draw scrutiny from antitrust regulators. Avis Budget (CAR.N) surprised investors on Monday when it said it was willing to […]
LONDON (Reuters) – British media group Pearson Plc (PSON.L) agreed to sell its 61 percent stake in financial data provider Interactive Data (IDC) (IDC.N) for $2 billion in cash, which it will use for faster expansion and acquisitions. The sale is part of a deal under which the whole of IDC will be acquired by […]