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NEW YORK (Reuters) – The recent auction for hotel chain Extended Stay America Inc [ESAIN.UL] looked like it had been fairly run based on the court documents submitted, a bankruptcy court judge said on Thursday during a hearing. Starwood Capital, which lost the auction, has objected to Extended Stay’s plan, saying that it does not […]
Hudson Ferry Capital has postponed fundraising for its debut vehicle, according to LBO Wire. The small-market buyout shop was formed in mid-2006, and began looking to raise $400 million. It held a $40 million first close last fall, from LPs like MassMutual, National City, Babson Capital and CIT Group. It plans to resume fundraising once […]
Heartland Dental Care Inc., an Effingham, Ill.-based chain of affiliated dental practices, acquired six dental practices in the first quarter. It also opened two new facilities, bringing its total number of practices to 238. Code Hennessey & Simmons acquired an undisclosed stake in Heartland Dental last summer.
Dell Inc. warned on Friday that it would be dangerous to take on a lot of debt and remain a public company given its worsening profit outlook, in a sign that it views proposals from Blackstone Group LP and billionaire investor Carl Icahn as fraught with risk, Reuters wrote. The No. 3 maker of personal computers published a 274-page preliminary proxy statement to inform Dell shareholders of how a $24.4 billion buyout proposal from founder and Chief Executive Michael Dell and private equity firm Silver Lake Partners was put together, and why it is the best of all the alternatives the company's board had explored. Icahn has proposed paying $15 per share for 58 percent of Dell, while Blackstone has indicated it can pay more than $14.25 per share -- both deals involve saddling the company with a lot of debt and keeping it on public markets. Silver Lake's $13.65 per share all-cash offer would see Dell go private.
Solyndra, the solar panel maker that famously went bust after inking $535 million in federal loan guarantees and roughly $1 billion in venture capital, has postponed an auction for its California manufacturing plant, Reuters reported Thursday. The auction has been put off for two months, and will allow new buyers to examine the company's assets, Solyndra's lawyers said.
Canadian fitness club chain GoodLife Fitness Centres Inc has expressed an interest in expanding into stores soon to be vacated by Target Corp. Target announced last week that it had decided to discontinue its operations in Canada. GoodLife founder and CEO David 'Patch' Patchell-Evans said the "spacious and convenient" Target locations fit the company's goal of growing its national chain from over 350 clubs at present to as many as 1,000 clubs. Based in London, Ontario, GoodLife is backed by Canadian private equity firms Penfund and Manulife Capital, as well as other investors.
BG Medicine Inc., a Waltham, Mass.-based developer of molecular diagnostics based on biomarkers, has filed for an $80 million IPO. It plans to trade on the Euronext Amsterdam under ticker symbol BGMDX, with Cowen International and Fortis serving as co-lead underwriters. BG Medicine has raised around $37 million in VC funding since 2000, from firms […]
(Reuters) – Private equity firms Kohlberg Kravis Roberts & Co, Thomas H. Lee Partners, and Providence Equity Partners Inc may bid for Cox Enterprises’ Travel Channel, Bloomberg reported, citing people familiar with the situation. The parties are in discussions with Discovery Communications Inc to run the channel should they win the auction, one of the […]
NEW YORK (Reuters) – Citigroup Inc (C.N) has earmarked its Japanese retail brokerage operation, Nikko Cordial Securities, for sale, according to a report in the Wall Street Journal on Sunday. Citigroup, which revealed an $8.3 billion quarterly loss on Friday, said Nikko Cordial Securities, Japan’s No. 3 brokerage in assets, will be categorized as a […]
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 […]
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