Eamon
New York's Attorney General Andrew Cuomo files two lawsuits against Steven Rattner for allegedly paying kickbacks to win investments from the state's $130 billion pension fund. Reuters reported Cuomo seeks to recover at least $26 million from Rattner and to permanently bar the former auto industry czar from the securities industry in New York. Rattner plans to fight Cuomo's lawsuits and to clear his name. Separately, Rattner settled a related SEC civil lawsuit. He agreed to pay $6.2 million and accepted a two-year ban from working with an investment adviser or broker-dealer.
Harrah's Entertainment Inc.’s planned IPO has been delayed as a result of concerns that the shares have been priced too high, Reuters reported citing sources familiar with the matter. News of the delay was first reported by CNBC. The pricing was initially scheduled on Thursday, buy could be pushed backed to Monday. Harrah’s is seeking to raise about $500 million and plans to sell 31.25 million shares for $15 to $17 a share. The company is backed by Apollo Management and TPG.
AstraZeneca PLC confirmed it is considering the spin-off of Astra Tech business, Reuters reported. AstraZeneca hired JP Morgan Chase to help with the review of options for the dental implants and medical devices maker. A source familiar with the situation told Reuters earlier this week that the Anglo-Swedish drugmaker was looking to sell the Swedish-based business for $2 billion. Reuters reported Astra Tech could be of interest to privately held companies and private equity firms according to industry analysts.
David Messer and Frank Gallipoli, who are the founders of a commodity firm that grew to become RBS Sempra, plan to launch a new private-equity backed company, Reuters reported. The new firm will be called Freepoint Commodities. It will be backed by buyout shop Stone Point Capital LLC of Greenwich, Conn.
CLSA Capital Partners plans to sell Everlife in a deal that could be worth up to 70 billion yen ($840 million), Reuters reported citing sources. CLSA hired Bank of America Merrill Lynch as an adviser and to sounding out interest from other private equity firms and strategic investors, three people with direct knowledge of the matter said. CLSA Capital is Credit Agricole SA's private equity business. Everlife is a Fukuoka, Japan-based food supplement maker.
The New Energy Capital Cleantech Infrastructure Fund closed a $23.5 million investment in a fuel cell project located on sites owned by the University of California San Diego and the City of San Diego. The project includes three fuel cells totaling 4.5 megawatts of generating capacity. New Energy Capital Cleantech Infrastructure Fund is managed by New Energy Capital Partners of Hanover, N.H.
Perseus LLC-backed Physicians Interactive Holdings LLC named Brett Miller president of its healthcare professional division. Chief Innovation Officer Sandeep Shah was named Chief Content Officer. Marlene Galante joins the executive leadership team in a new role as general manager, Academic Centers, Associations, and Centers of Professional Excellence. Physician Interactive of Marlborough, Mass., is a provider of health care information and mobile clinical decision tools to medical professionals.
First State Super and Health Super plan to merge, Reuters reported. The transaction would form the fifth largest private pension fund in Australia, the firms said. The two funds together have A$28 billion ($27.48 billion) in funds under management.
Booz Allen Hamilton Holding Corp. closed its first day of trading on the New York Stock Exchange at $19.25, 13.2 percent higher than its IPO price on Wednesday, Reuters said. The McLean, Virginia-based government consulting firm is majority owned by The Carlyle Group of Washington, D.C. Booz Allen Hamilton raised about $238 million through the sale of 14 million shares for $17 each. It had planned to sell shares in the range of $17 and $19 each.
Norwalk, Conn. -based Kayak Software Corp. plans to raise as much as $50 million, Reuters reporter citing an IPO filing with the Securities and Exchange Commission. The operator of the Kayak.com website did not specify how many shares it plans to sell. Some of the major investors in the company that plan to sell shares in the IPO include: General Catalyst Partners, Sequoia Capital, Accel Funds and Oak Investment Partners.