NEW YORK (Reuters) – Western Union Co (WU.N) said a federal jury in Texas has ordered a unit of MoneyGram International Inc (MGI.N) to pay it $16.5 million for patent infringement over a money transfer system. Western Union alleged that MoneyGram Payment Systems Inc’s “FormFree” system essentially copied its own patented “Money Transfer By Phone” […]
Warburg Pincus has agreed to sell German credit card processor EasyCash to Ingenico SA for €290 million. www.easycash.de
(Reuters) Hospital operator Select Medical Holdings Corp’s initial public offering priced at $10 a share, below the estimated range, and raised $300 million, according to an underwriter. Select Medical, which operates 87 long term acute care hospitals and 948 outpatient rehabilitation clinics in the United States, cut the number of shares sold to 30 million, […]
LDC has sponsored an £11 million management buyout of Homeserve Emergency Services, a UK-based provider of home emergency fulfillment services to the domestic insurance industry, from Homeserve PLC.
JLL Partners and Warburg Pincus are facing an investor lawsuit in opposition to their plan to recapitalize Builders FirstSource Inc. (Nasdaq: BLDR). The two firms currently hold a combined 49.9% stake in the residential construction company, and have agreed to both a $75 million rights offering at $2 per share and a debt-for-equity swap. The suit claims the recap would not be in the best interest of the company or its other shareholders.
Ares Management and Teachers' Private Capital, owner of mattress maker Serta, have agreed to buy Simmons Bedding Co. from THL Partners. The deal would include Simmons filing for a prepackaged Chapter 11 bankruptcy, which would reduce its debt from $1 billion to around $450 million (filing within 30-6 days). The actual sale would be valued at $760 million, including equity from the purchaser and both debt and equity from certain existing Simmons lenders. Serta and Simmons would continue to be operated independently.
Chesapeake Energy Corp. (NYSE: CHK) has formed a joint venture on a portion of its midstream assets, with Global Infrastructure Partners. The deal would create a new entity called Chesapeake Midstream Partners, in which each firm would own a 50% stake. Chesapeake Energy would receive $588 million in cash from Global Infrastructure Partners.
NEW YORK (Reuters) – Many U.S. small businesses are optimistic about growth and see the economy improving in three to six months, according to a survey released on Friday. Four out of five small businesses are pursuing a moderate or aggressive growth strategy, expanding into new markets and producing more revenue among existing customers, according […]
SINGAPORE (Reuters) – Singapore’s $200 billion-plus sovereign wealth fund GIC will likely reveal next week it is moving more money into property, resources and Asian assets after recently cutting its exposure to major Western banks. The Government of Singapore Investment Corp, or GIC, is due to release its annual report for the year to March […]
SEOUL (Reuters) – Shares in Hynix Semiconductor (000660.KS) tumbled on Friday on market talk the sale of a stake held by its shareholders including Korea Exchange Bank (004940.KS) could be worth less than earlier expected. Market talk that the stake sale could be discounted to as low as 3 trillion won ($2.51 billion) from the […]