(Reuters) – CKE Restaurants Inc (CKR.N) said it received a superior proposal of $12.55 per share in cash from Western Acquisition Holdings and said it will terminate a previous merger agreement with private equity firm Thomas H. Lee Partners. CKE, owner of the Hardee’s and Carl’s Jr. hamburger chains, received the new proposal on April […]
LONDON (Reuters) – Consumer goods giant Unilever Plc/NV is set to put its Italian frozen foods unit up for sale next week with private equity groups Permira and Lion Capital likely to lead the 600 million euro-plus ($839 million-plus) auction, sources close to the situation said on Monday. Permira [PERM.UL], which owns Birds Eye Iglo, […]
LONDON/DUBAI (Reuters) – Carlyle, Cinven, CVC and General Atlantic are among firms preparing binding bids for port and shipping agent Inchcape Shipping Services (ISS), people familiar with the matter said. ISS’s owner Istithmar, the investment arm of Dubai World, hopes to raise more than $700 million through the sale, people have said previously. Its debt-laden […]
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. CDC Global Services, a Shanghai unit of CDC Corp., is exploring strategic alternatives after appointing a new CEO. (Press release) GMAC has denied a report in the New York Post which stated ResCap, (Residential Capital), its mortgage unit, was for sale. Old Carco LLC, a unit of Cerberus Capital Management LP, announced that it was seeking a buyer for its 2 manufacturing plants, a manufacturer and wholesaler of cars and trucks.
Lineage Power Holdings Inc., a portfolio company of Gores Group, has completed its acquisition of PECO II Inc. (Nasdaq: PIII), a Galion, Ohio-based provider of engineering and on-site installation services related to communications power systems and power distribution equipment. The deal was valued at around $16.7 million, with PECO stockholders receiving $5.86 per share.
Molycorp Inc., a Greenwood Village, Colo.-based rare earth mining company, has filed for a $350 million IPO. It plans to trade on the NYSE under ticker symbol MCP, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters. The company was created in 2008 when Chevron Mining sold its Mountain Pass operations to an acquisition […]
FRANKFURT (Reuters) – U.S. private equity firm Blackstone (BX.N) is looking into the possibility of buying Cologne department store chain Kaufhof, part of the Metro group (MEOG.DE), German business daily Handelsblatt said in an abstract of a story due to be published on Monday. The paper cited works council sources. A spokesman for Metro AG […]
(Reuters) – Dutch semiconductor company NXP Semiconductors N.V. on Friday filed with U.S. regulators for an initial public offering of up to $1.15 billion. NXP, which filed under the name Kaslion Acquisition B.V., said it would change its name to NXP. Private equity investors including Kohlberg Kravis Roberts & Co, Bain Capital, Silver Lake Partners, […]
NEW YORK/LONDON (Reuters) – Providence Equity Partners is among the bidders for corporate investigations firm Kroll, along with BC Partners Ltd and Apax, as private equity deals heat up again, sources familiar with the matter said. Kroll, put up for sale by the No. 2 global insurance broker Marsh & McLennan Cos Inc (MMC.N), attracted […]
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Moody’s Investors Service and Standard & Poor’s. This week there were two upgrades and a downgrade. Company: Harrah’s
Sponsor: Apollo Management and TPG
Action: S&P raised its corporate credit and issue-level ratings on the company and its operating subsidiary by one notch. S&P raised the corporate credit rating to 'B-' from 'CCC+'.
Highlight: "The ratings upgrade reflects our assessment that several actions taken by management over the past several quarters have positioned the company with sufficient capacity to weather the current downturn in the gaming sector," said Standard & Poor's credit analyst Ben Bubeck.