LONDON (Reuters) – BMG Rights Management, the music venture owned by Bertelsmann and KKR, is eyeing a number of potential UK investment projects, the Financial Times reported. BMG was looking at “something like 50 deals,” including two or three large acquisitions in the coming months, the company’s head, Hartwig Masuch, told the paper in an […]
Gordman’s Stores Inc., an Omaha, Neb.-based off-price department store chain, has filed for a $75 million IPO. It plans to trade on the Nasdaq under ticker symbol GMAN, with Piper Jaffray serving as lead underwriter. The company reports $457 million in revenue for the year ending January 30, 2009. Net income for the period was […]
April 30 (Reuters) – Railroad equipment supplier Greenbrier Cos (GBX.N) and private equity firm WL Ross & Co said they have jointly acquired a lease portfolio of nearly 4,000 railcars valued at about $230 million. The firms acquired the portfolio through a newly-formed venture, WLR-GBX, to be owned by affiliates of WL Ross for the […]
NEW YORK (Reuters) – Lyondell Chemical Co said on Friday that it has exited bankruptcy after a 16-month process during which its debt load was reduced to about $5 billion from $24 billion. The company, which went bankrupt last January after a drop in business due to the economic downturn left it unable to make […]
It's been a rollercoaster of an April. Click through for a rundown of the past month's biggest successes, failures and tales of idiocy.
Last month, Cerberus Capital announced an agreement to buy Boston-based hospital chain Caritas Christi for $830 million (including the assumption of pension obligations). It promised to maintain the company’s Catholic identity, which includes significant charitable contributions, and to not sell/shut any of the hospitals or take the company public for the first three years. My question isn’t about how Cerberus plans to turn the hospitals into for-profit institutions – there actually is a road map for that in Massachusetts, as evidenced by Vanguard's work on St. Vincent’s hospital in Worcester – but rather if that $830 million pricetag will stand.
Express, a Columbus, Ohio-based retail apparel brand and retailer, has set its IPO terms to 16 million common shares being offered at between $18 and $20 per share. It would have an initial market cap of approximately $1.77 billion, were it to price at the high end of its range. The company plans to trade on the NYSE under ticker […]
Madison Dearborn Capital Partners has agreed to acquire a 51% equity stake in consumer credit reporting company TransUnion from the Pritzker family, which will retain the other 49 percent. No financial terms were disclosed, although the Wall Street Journal says the deal values TransUnion at around $2 billion.
Aurora Diagnostics LLC, a Palm Beach Gardens, Fla.-based diagnostic lab and anatomic pathology company, has filed for a $150 million IPO. It plans to trade on the Nasdaq under ticker symbol ARDX, with Morgan Stanley, Barclays Capital and UBS Investment Bank serving as co-lead underwriters. The company reports $171 million in net 2009 revenue, compared to $159 […]
LOS ANGELES (Reuters) – Supermarket chain BI-Lo LLC said on Thursday it expects to exit bankruptcy in May, backed by its private equity owner Lone Star Funds, after it received court confirmation for a reorganization plan. BI-Lo, which has 207 supermarkets and over 15,000 staff, filed for bankruptcy 13 months ago, just days before two […]