Cerberus moves to allow investors to exit Freedom Group – Reuters

By Reuters News — 2 years ago

Cerberus Capital Management is working on a mechanism that would allow its fund investors to exit Freedom Group, the maker of the Bushmaster rifle used in the Newtown, Connecticut school shooting rampage, writes Reuters. The move comes a year after the New York-based private equity firm said it would sell Freedom Group, a pledge that was made four days after 26 people, most of them children, were killed at the Sandy Hook Elementary School in Newtown.

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Cerberus Completes Sale of North American Bus Industries

By Angela Sormani — 3 years ago

Cerberus Capital Management has completed the sale of North American Bus Industries, a manufacturer of transit buses, to New Flyer, a manufacturer of heavy-duty buses in the U.S. and Canada. The transaction had a total purchase price of $80 million. An affiliate of Cerberus acquired NABI in 2006.

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Reuters – Best Buy Spurns $1bn Minority Investment

By Reuters News — 3 years ago

Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze‘s three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world’s largest electronics retailer, writes Reuters.

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Reuters: Cerberus working on takeover bid for Supervalu

By Reuters News — 3 years ago

Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc. and has held talks with lenders to line up financing, according to three sources familiar with the matter. Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up 30 percent on Monday.

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