Interstate Auto Group Inc., a Minneapolis-based buy-here/pay-here auto lot operator, has acquired Auto Master from First Cash Financial Services Inc. No financial terms were disclosed. IAG is a portfolio company of Alpine Investors.
Wayzata Investment Partners has closed its second distressed fund with $3.4 billion in committed capital, according to LBO Wire. www.wayzatainvestmentpartners.com
JLL Partners said that it will commence an offer for any issued or outstanding shares it does not already own in Patheon Inc. (TSX: PTI), a Canadian provider of contract development and manufacturing services to the global pharmaceutical industry. The offer would be for US$2 per share, or a 138% premium to last Friday’s closing price. JLL currently holds around a 30% stake in Patheon.
David Yoo has joined Seoul-based SF Investment as a managing director and head of the Americas. He previously was with EarlyBirdCapital as vice president of I-banking.
Del Frisco’s Restaurant Group LLC, a Wichita, Kan.-based steakhouse operator, has withdrawn registration for a $100 million IPO, citing “current public market conditions.” It had originally filed in October 2007, with Piper Jaffray serving as lead underwriter. Lone Star Funds acquired the company in late 2006. www.delfriscos.com
TDX Group, a UK debt collection advisor, has sold a 40% stake to Bahrain-based investment group Investcorp for £28m (US$42m). Nottinghamshire-based TDX was founded five years ago by executives at Capital One, HSBC and GE. Working with creditors, purchasers and collection agencies, TDX provides data including sale market pricing, bid data, segment and account level […]
NEW YORK (Reuters) – The publisher of the Chicago Tribune and the Los Angeles Times declared bankruptcy on Monday as the U.S. newspaper industry’s unrelenting loss of readers and advertisers claimed its biggest victim yet. Tribune Co, which owns eight major daily newspapers and several television stations, filed for Chapter 11 bankruptcy protection after collapsing […]
NEW YORK/TORONTO (Reuters) – BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz)(BCE.N: Quote, Profile, Research, Stock Buzz), the Canadian telecom giant whose C$34.8 billion ($27.8 billion) buyout appears close to collapse, has received a second accounting opinion that found it would be solvent after the deal is done, a source familiar with the situation said […]
TORONTO (Reuters) – The Caisse de depot et placement du Quebec, one of Canada’s largest institutional money managers, said on Monday that its president and chief executive would be away on medical leave longer than planned. The Caisse has extended Richard Guay’s leave until Jan. 5, the pension fund manager said in a brief […]
NEW YORK, Dec 8 (Reuters) – Rodman & Renshaw Capital Group Inc., a small U.S. investment bank, on Monday made an unsolicited offer to acquire rival Cowen Group Inc. for $7 a share, 17 percent above the New York firm’s Friday closing price. Cowen, a venerable Wall Street name that has struggled in the past […]