NEW YORK (Reuters) – A major Washington Mutual Inc investor has waived an agreement that restricted the largest U.S. savings and loan from raising capital, a move that reflects the financial difficulties of the Seattle-based thrift. TPG Inc, a private equity firm led by David Bonderman, had invested $2 billion earlier this year as part […]
(Reuters): Barclays President Bob Diamond says he’s not interested in acquiring Morgan Stanley. Says “there is no playbook” for dealing with this environment.
NEW YORK/LONDON (Reuters) – Shares of Wall Street firms Morgan Stanley and Goldman Sachs plummeted on Wednesday and the UK’s biggest mortgage lender, HBOS Plc, looked set to be bought in the latest signs of financial industry distress. Tuesday’s $85 billion rescue of insurer American International Group by the U.S. Federal Reserve did little to […]
(Reuters) – Washington Mutual’s board would seriously consider a merger offer even at a discount to what the Seattle-based thrift believes it is worth, as it faces mounting pressure to pursue options amid credit-rating downgrades, an analyst at Merrill Lynch said. “Recent markets disruption and lack confidence that Washington Mutual can withstand the credit cycle […]
Ferrovial’s British airports operator BAA said on Wednesday it is putting its Gatwick airport in London up for sale. ‘We have decided to begin the process of selling Gatwick Airport immediately,’ Colin Matthews, chief executive of Spanish owned-BAA, told reporters in Toronto. Sector sources said Gatwick, one of the Europe’s busiest airports with 35 million […]
Baird Capital Partners Europe, the UK mid-market buyout arm of Baird, has backed portfolio company Choices Holdings Limited’s acquisition of Glasgow-based care group Domiciliary Care. No price was given for the bolt-on acquisition. A 2006 investment, Baird Capital Partners Europe, then known as Granville Baird Capital Partners, put £10m into the management buyout of Choices […]
Embattled HBOS finally admitted on Wednesday morning, after considerable speculation, that it is in merger talks with rival Lloyds TSB. “In the light of market speculation, the board of HBOS confirms that it is in advanced talks with Lloyds TSB Group which may or may not lead to an offer being made for HBOS,” HBOS […]
Axia Capital Partners has sold Hydroid LLC to Kongsberg Maritime AS for approximately $80 million. Hydroid is a Pocasset, Mass.–based maker of autonomous underwater vehicles for the global military and commercial markets.
Creo Capital Partners has acquired the assets of Sataria Distribution and Packaging, an Indianapolis-based provider of third-party-logistics. No financial terms were disclosed.
Bug Music Inc., a Los Angeles-based music publisher sponsored by Spectrum Equity Investors, has secured a $200 million credit facility led by JPMorgan. It can be increased to $250 million, and is priced at Libor plus 2.5 percent. PRESS RELEASE Bug Music, Inc., one of the world’s largest independent music publishers, has secured a […]