NEW YORK (Reuters) – Neiman Marcus Inc. reported a quarterly profit on Tuesday as shoppers returned to its upscale department stores over the holidays and the retailer avoided profit-eating discounts by keeping inventories low. The privately held chain, which reported losses a year earlier, also received a lift from its online and catalog Neiman Marcus […]
LONDON (Reuters) – A clutch of private equity firms have bid up to 400 million pounds ($599.5 million) for British greetings card retailer Card Factory, sources familiar with the process said, as buyout firms scour the sector for deals. European buyout houses Permira, Cinven and Summit Partners, a U.S. firm specialising in minority and majority […]
LONDON (Reuters) – British waste management company Shanks (SKS.L) ended talks with buyout firm Carlyle Group after rejecting a reduced 120 pence per share indicative cash offer, sending its shares down 14.5 percent. Shanks said it received a final offer from Carlyle on Monday valuing the business at 476 million pounds ($713 million), lower than […]
NEW YORK (Reuters) – Marsh & McLennan Cos Inc (MMC.N), the No 2. global insurance broker, has put up its security consulting business Kroll up for sale for $1.3 billion and received offers from several major private equity firms in the first round of bidding, the Financial Times reported on its website on Monday. Three […]
LONDON (Reuters) – Celebrity photographer Annie Leibovitz has arranged a deal with a private equity firm to sort out her debts, the Financial Times reported in its Tuesday edition. The paper said Leibovitz, who has photographed everyone from Michelle Obama to Britain’s Queen Elizabeth, has lined up real estate investment firm Colony Capital as a […]
NEW YORK (Reuters) – U.S. mid-priced hotel chain Extended Stay America Inc could exit bankruptcy protection as soon as June, according to new reorganization plans filed on Friday. The company, which runs over 650 hotels, said in court documents that it is seeking confirmation of its proposed bankruptcy reorganization in June, and could emerge from […]
WILMINGTON, Del. (Reuters) – Six Flags Inc (SIXFQ.OB) put its its chief financial officer on the stand to defend its reorganization plan against attacks by some bondholders, with ownership of the theme park operator at stake. Jeffrey Speed spent most of Monday describing the events leading to the company’s bankruptcy and the operating cash flow […]
Superior Capital Partners has acquired the assets of Q'SO Inc., a Fort Worth, Texas-based maker of adhesive and sealant products that are sold to the construction and infrastructure markets. No financial terms were disclosed. The new company will be known as Edge Adhesives.
CCMP Capital confirmed reports that it has agreed to acquire data and marketing services company Infogroup Inc. (Nasdaq: IUSA). The deal is valued at approximately $635 million, including debt refinancing. Infogroup stockholders will receive $8 per share.
NEW YORK (Reuters) – Harrah’s Entertainment Inc. has won approval from lenders to extend the maturity date on a $5.5 billion real estate loan, giving it until 2015 to pay off the debt, the company said on Monday. Harrah’s, the world’s largest operator of casinos, will also have the ability to buy back the commercial […]