NEW YORK (Reuters) – Risk advisory firm RiskMetrics Group Inc (RMG.N) has put itself up for sale and has spoken to potential bidders, a source familiar with the situation said on Friday. Boutique bank Evercore partners is handling the sale, two sources familiar with the situation said. They asked not to be named because the […]
Pulling the Plug: Goldman Sachs has moved to wind down its Global Equity Opportunities Fund - once the flagship of its prestigious set of in-house hedge funds. (FT) Interpretations: Bloomberg reports that the new banking rules may force the banks to sell their buyout units, WSJ concurs. (Bloomberg, WSJ) Dissenters: Tim Geithner does not like Obama's financial reform plan. (Dealbreaker) Rolfe Winkler: Warren Buffet has let the public down again. (Reuters) 100 Best Companies to Work For: Robert W. Baird & Co. has a "No asshole" rule. (Forbes) B-School Feuds: Apparently Wharton students plan an annual ski trip, and the Dean of Students isn't too happy about that. A student fired back a defense, and Wall Street Oasis has the email exchange. (WSO)
LONDON (Reuters) – Hedge funds have bought a strategic stake in troubled UK gaming group Gala Coral’s junior debt which will give them a place at the table in the company’s long-running restructuring, banking sources said on Friday. Apollo Management [APOLO.UL], Cerberus Capital Management [CBS.UL] and Goldman Sachs bought a stake of around 130 million […]
LONDON/FRANKFURT (Reuters) – Switzerland’s Synthes Inc (SYST.VX) and Australia’s Cochlear Ltd (COH.AX) have emerged as suitors for Siemens AG’s (SIEGn.DE) hearing aid unit ahead of binding bids due in late February, sources familiar with the matter said. The two companies are joining five private equity firms in pursuit of the unit, which sells one in […]
ActivStyle, a Riverside Co. portfolio company focused on incontinence products, has acquired Advocate Medical Services, a provider of incontinence products in Florida and Texas. No financial terms were disclosed.
NEW YORK (Reuters) – Latham International, which makes swimming pools and parts such as liners, steps and ladders, said on Friday that a bankruptcy court approved a debt restructuring plan that will put the company into the hands of its lenders. Latham said it expects to come out of bankruptcy during the next few days. […]
NEW YORK (Reuters) – One of the largest shareholders of theme park operator Cedar Fair (FUN.N) plans to vote against the $2.4 billion takeover by private equity firm Apollo Management, saying the price is too low. The deal to buy the Ohio-based amusement and water park firm was notable for being one of the few […]
Lone Star Funds has agreed to acquire hotel owner and operator Lodgian Inc. (NYSE: LGN), for approximately $270 million (including assumed debt). Under terms of the agreement, Lodgian stockholders would receive $2.50 per share.
SHANGHAI (Reuters) – Standard Chartered’s (STAN.L) private equity unit, Chinese conglomerate Fosun Group and three other bidders are vying to buy two Chinese retailers and other assets from investment firm Global Mart Ltd in a deal expected to fetch about 500 million yuan ($73 million), people familiar with the matter said. Global Mart, founded in […]
FRANKFURT (Reuters) – BMG Rights Management, the music venture owned by Bertelsmann and KKR, is looking at a number of potential investment projects backed by bank credit of up to 600 million euros ($852.2 million), a German paper reported. BMG was looking at around 38 prospects to invest in and had received loan promises from […]