Reuters News

British private equity firm 3i has promoted Simon Borrows to chief executive, writes Reuters. He replaces Michael Queen who has been in the post for a little more than 3 years Reuters – British private equity firm 3i Group has promoted Simon Borrows to chief executive as it looks to turn around its lacklustre performance […]

Private equity firm Longreach Group is seeking T$30 or more a share for its stake in Taiwan’s EnTie Commercial Bank, a price that would value any deal at about $1.2 billion, writes Reuters. Longreach and Carlyle Group are planning to exit their investments in Taiwan, as its competitive, fragmented banking market has never produced the […]

Online bulletin board Pinterest has raised $100 million in a financing round that values the US start-up at $1.5 billion, the Wall Street Journal said, writes Reuters. The funding is led by Japanese e-commerce site Rakuten, with existing investors such as Andreessen Horowitz, FirstMark Capital and Bessemer Venture Partners also participating, writes Reuters. Reuters – […]

Chemicals maker DuPont has shortlisted four potential buyers for its car paint business after evaluating revised offers received on April 30, according to Reuters. The consortium of Blackstone Group and Bain Capital, the KKR & Co.-Onex Corp. pair, Carlyle Group, and Apollo Global Management have advanced to the next round as DuPont seeks to negotiate […]

Private equity firms see a buying opportunity as United Technologies tries to fund its biggest-ever deal with a little M&A.

Australian gas pipeline owner Hastings Diversified Utilities Fund received a $1.25 billion takeover offer from a consortium including a Canadian fund manager on Tuesday, setting up a bidding war against APA Group, Reuters reported. APA left its options open on Tuesday, extending its A$1.1 billion ($1.1 billion) hostile bid by two months to July 31 […]

Buyout shop Carlyle Group, which went public in a  $671 million IPO earlier this month, on Tuesday reported a 26% drop in profitability in its first-quarter earnings, as it failed to match a strong 2011 first quarter, Reuters wrote Tuesday. Carlyle said economic net income, a measure of its profitability that takes into account the […]

Facebook Inc. has increased the price range in Silicon Valley’s biggest-ever initial public offering to raise more than $12 billion, giving the social network a valuation potentially exceeding $100 billion. The company founded in a Harvard dorm room by Mark Zuckerberg raised the price target range to between $34 and $38 per share in response […]

Online stock photography provider Shutterstock is planning an initial public offering of common stock to raise up to $115 million, writes Reuters. Shutterstock is backed by Insight Venture Partners and Pixel Holdings Inc, writes Reuters. Reuters – Online stock photography provider Shutterstock plans an initial public offering of common stock to raise up to $115 […]

Australian underwear manufacturer Pacific Brands said takeover talks with parties including KKR have ended without an offer being made, according to Reuters. KKR made a buyout approach to Pacific Brands in January that local reports said could be worth $614 million. Reuters – Australian underwear manufacturer Pacific Brands (PBG.AX) said on Tuesday that takeover talks […]