WELLINGTON/HONG KONG (Reuters) – New Zealand’s Telecom Corp (TEL.NZ) is in negotiations to sell its Australian subsidiary AAPT to TPG Telecom (TPM.AX), which has bid about $400 million for the company, a source told Reuters. TPG was selected as Telecom’s preferred bidder after its offer for AAPT trumped three other bids, a source close to […]
Newsweek On The Block: Jon Meacham, the magazine's publisher, may buy the magazine. (WSJ) Also, Business Insider has somewhat insultingly (or not?) bid $1 for the title. (Business Insider) Taking Full Responsibility: Jimmy Cayne, an adult, blamed "market forces" for Bear Stearns' collapse. (Bloomberg) Don't Want an MBA? Here are some business school alternatives. (FINS) Suit Happy: CalPERS is free to sue S&P silly. (Dealbook) The $2.3 Trillion Garage Sale: Can the Fed unload all the assets it acquired during the meltdown without crashing Wall Street again? (Slate)
COPENHAGEN (Reuters) – Danish ambulance and rescue services group Falck will announce details of its planned public offering of stock within a week, ahead of a listing by fellow Danish company Chr Hansen, sources familiar with the deal said on Wednesday. Falck said on April 22 it was exploring a stock offering and listing on […]
A few months back, I asked you to participate in our bi-annual Dealmakers Survey, which is done in conjunction with the Association for Corporate Growth (ACG). We got over 680 responses, including GPs, bankers, lenders and LPs. The top-line results reflect increased optimism, which 85% of respondents expecting an increase in M&A activity over the next six months. They also said it’s a buyer’s market. For context, only 56% predicted increased M&A activity in the year-ago survey. Respondents said that healthcare and manufacturing/distribution would experience the most activity with 20% each, followed by financial services (13%) and technology (12%). Digging a bit deeper, business services is considered the sector with the best opportunities for future buyouts, while manufacturing/distribution will be best for distressed.
Providence Equity Partners has agreed to acquire a 25% equity stake in online automotive shopping site AutoTrader.com, a subsidiary of Cox Enterprises Inc. No financial terms were disclosed. Cox was advised on the sale by Goldman Sachs.
Douglas Dynamics Inc., a Milwaukee-based maker of snow plows and salt spreaders for light trucks, raised around $112.5 million in its IPO. The company priced 10 million shares at $11.25 per share, compared to an original price range of between $14 and $16 per share (it amended the range to $11.25-$11.75 per share prior to […]
FRANKFURT (Reuters) – German property company GSW (GIBG.DE) has called off plans to float its shares on the stock market amid concern about the turmoil on equity markets triggered by Greece’s debt crisis. “Since announcing its intention to float there has been significantly increased volatility and uncertainty in global equity markets,” the company said in […]
HONG KONG/SYDNEY (Reuters) – Australia and New Zealand Banking Group Ltd (ANZ.AX) has hired Goldman Sachs JBWere and JP Morgan (JPM.N) to advise on its bid for a majority stake in Korea Exchange Bank (004940.KS), sources said on Wednesday, in what is expected to be a more than $4 billion deal. Sources told Reuters last […]
NEW YORK (Reuters) – Snow plow and salt- and sand-spreader maker Douglas Dynamics Inc (PLOW.N) cut the expected price range in its initial public offering and delayed its pricing, according to an underwriter on Tuesday. The price range was cut to $11.25 to $11.75 from $14 to $16 and the IPO pricing was delayed to […]
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. Bigpoint GmbH, the German online gaming portal, is considering a sale, mergermarket reported. The company hired Montgomery & Co. has to help it explore strategic alternatives after receiving inbound interest in the company. The Washington Times is for sale by its owner, Unification Church. (AP) Royal Bank of Scotland continues to seek buyers for Hanco, its ATM business.