MILAN (Reuters) – Fiat SpA’s chief executive, facing a two-week deadline to work out a partnership with Chrysler LLC, warned the troubled U.S. carmaker’s unions he would ditch the idea unless they agreed to cut labor costs. In a clear message to U.S. and Canadian unions, Sergio Marchionne told Wednesday’s Globe and Mail newspaper a […]
NEW YORK (Reuters) – Chrysler LLC’s first-lien lenders are preparing a counter-offer for the U.S. Treasury that might include equity in a Chrysler-Fiat alliance and some cash in exchange for abandoning their claim to some $7 billion in debt, sources with knowledge of the matter said. The Chrysler lenders are considering a response after being […]
Vistar Corp., a foodservice distributor owned by The Blackstone Group and Wellspring Capital Management, has agreed to acquire the assets of Five Star Distributors Inc., a Chicago-basedprovider of vending and office coffee products in the Midwest region. No financial terms were disclosed.
NEW YORK (Reuters) – Bridgepoint Education Inc, an operator of online and campus universities, became the third U.S. company to go public this year, but priced its deal 30 percent below the midpoint of its estimate range of $14 to $16, a source with knowledge of the deal said on Tuesday. San Diego-based Bridgepoint sold […]
NEW YORK (Reuters) – BlackRock (BLK.N) plans to raise $5 billion to $7 billion worldwide to buy toxic assets from U.S. financial institutions under a planned U.S. government program, The fund manager hopes about $1 billion of that will come from Japanese institutional investors, BlackRock CEO Laurence Fink told the Nikkei financial daily in a […]
NEW YORK (Reuters) – TPG Capital has given investors in its latest Asian fund the option of reducing their commitments by up to 10 percent, or up to $420 million in total, the Texas-based private equity firm said in a letter obtained by Reuters. The $4.25 billion buyout fund, called “TPG Asia V,” was raised […]
York Telecom, an Eatontown, N.J.–based provider of visual communication services for large enterprise customers, has raised $6 million from Petra Capital Partners.
A.J. Brohinsky has joined KKR as a director in the firm’s portfolio operations team, KKR Capstone. He will be “responsible for leading the firm's Lean Six Sigma efforts.” Brohinsky previously was executive vice president of SmartOps.
NEW YORK (Reuters) – The Obama administration is expected to name Fannie Mae Chief Executive Herb Allison to head the U.S. government’s $700 billion financial rescue program, a source familiar with the matter said on Monday. The announcement is expected “in coming days,” the source said, adding that Michael Williams, Fannie Mae’s chief operating officer, […]
Ancor Capital Partners has acquired FCA Packaging Products LLC, a Moline, Ill.-based maker of industrial shipping containers. No financial terms were disclosed. William Blair & Co. advised FCA on the sale.