TORONTO (Reuters) – Canadian private equity buyout firms had their strongest three months of the year in the third quarter, boosted by more deals and the $900 million sale of Nortel Networks Corp’s (NRTLQ.PK) enterprise unit to Avaya Inc. According to data put out by the Canadian Venture Capital and Private Equity Association (CVCA) and […]
HONG KONG (Reuters) – Private equity groups investing in China must give up on the idea of taking control of target companies, which often are run by entrepreneurs with an emotional stake in their businesses, influential dealmaker David Liu said on Thursday. “Frankly, those strategies don’t apply in China,” Liu, head of Greater China for […]
Oaktree Capital Management has helped form Sentinel Capital Funding, a new source of financing for residential developers. No financial terms were disclosed. Oaktree's partners on the deal are Eugene Rosenfeld and Craig Manchester, principals of Integral Communities.
Private equity professionals are just as hopeful about the future as they were around this time last year. According to a new survey sponsored by Akin Gump, BMO Capital Markets, and mergermarket, buyout folks expect the market for financing to come back in the second half of next year. That sounds a lot like what they were saying around this time last year, a hopeful prediction that sadly has not come true. I asked Akin Gump Partner Patrick Dooley what that says about private equity investors. His response was "Hope springs eternal." He also insisted insisted that buyout pros do really expect that deal financing will return next year and valuation gaps will narrow. The survey found that 44% of survey respondents who expect valuation gaps to narrow predict it happening in the first half of next year. Meanwhile 61% of those surveyed said they expect financing markets to improve in the first half of 2010.
Hewlett-Packard just announced that it has agreed to buy 3Com Corp. for $7.90 per share, or approximately $2.7 billion. Two quick thoughts: 1. It's a good thing the SEC is off for Veteran's Day, or else it would be busy trying to sort through the slew of inside traders. First, 3Com's stock price has been steadily raising for the past few days -- as Dan Frommer points out -- for no discernable reason. Moreover, someone with access to a Bloomberg terminal sent over some charts showing the price and volume for 3Com $5 strike calls. Take a look at the below, and pay specific attention to the the bottom right-hand corner:
NEW YORK (Reuters) – Motorola Inc (MOT.N) is in the early stages of looking into a potential sale of its $4.5 billion television set-top box and network equipment business, two sources said on Wednesday. Motorola is in the early stages of seeking buyers for the unit, whose suitors include private equity firms and other communications […]
FRANKFURT (Reuters) – German generic drugmaker Ratiopharm has attracted at least 10 first-round bids, several people familiar with the procedure told Reuters on Wednesday, indicating that a competitive auction was underway. Bidders from the healthcare industry include Israel’s Teva (TEVA.TA), Mylan (MYL.O) of the United States, Sanofi-Aventis (SASY.PA) of France, China’s Sinopharm (1099.HK) and Actavis […]
LONDON (Reuters) – A group of private equity firms is expected to progress to the second round of the sale of second-hand car dealership British Car Auctions, people familiar with the matter said. Buyout firms Bridgepoint, Cinven, BC Partners and Clayton Dubilier & Rice are all expected to go through to the next stage of […]
ABU DHABI (Reuters) – Invest AD, a state-owned investment fund, will pay 50 million euros ($74.92 million) to acquire a “significant” minority stake in Turkish logistics firm EKOL Lojistik A.S., it said on Wednesday. The investment, a capital increase aimed at funding the Turkish firm’s expansion plans, is the first by Invest AD’s new private […]
Tiburon, a Gores Group portfolio company focused on automated public safety and security solutions, has acquired the data applications business of Positron Public Safety System. No financial terms were disclosed.