TORONTO (Reuters) – Canada’s largest home-grown advertising company, Cossette Inc (KOS.TO), said on Monday that U.S. private equity group Mill Road Capital has sweetened its all-cash takeover bid for the company. Cossette’s board has accepted the amended proposal, which values the company at C$8.10 a share, or C$135.3 million ($128 million). Cossette’s management reaffirmed support […]
LONDON (Reuters) – British fund manager Gartmore and its private equity owners plan to raise about 400 million pounds ($659 million) in a London listing early next month, people familiar with the matter said. Gartmore and San Francisco-based Hellman & Friedman will sell shares at 250-330 pence each, valuing the company at 800 million pounds […]
Henry Schein Inc. (Nasdaq: HSIC) has agreed to merge its US animal health business with Butler Animal Health Supply, a portfolio company of Oak Hill Capital Partners and The Ashkin Family Group. The combined animal health distribution company would be renamed Butler Schein Animal Health, and would have had around $850 million in revenue over the past 12 months. Henry Schein will hold a 50.1% stake in the newly formed entity, with Butler owners holding the other 49.9 percent.
HONG KONG (Reuters) – Honiton Energy Group has hired Morgan Stanley (MS.N) to help the China-focused wind power developer lure a new investor, in a deal that could value the entire company at up to $250 million, two people familiar with the details said on Monday. The company, currently 100 percent foreign-owned and headquartered in […]
GENEVA (Reuters) – Barry Callebaut (BARN.S), the world’s biggest chocolate maker, is still determined to sell its consumer business and hopes to clinch a deal in 2010, its chief executive was quoted on Saturday as saying. Selling chocolate to consumers had no place in Callebaut’s business-to-business strategy and was in any case less profitable, Juergen […]
FRANKFURT (Reuters) – Anheuser-Busch InBev (ABI.BR) has walked away from a planned sale of its German beer brand Beck’s to U.S. buyout firm Bain Capital, a German magazine reported. Contracts had been ready to sign and Bain had secured financing for the projected 1.7 billion euro ($2.54 billion) deal, weekly Wirtschaftswoche said on Saturday in […]
LONDON (Reuters) – British renewable energy company Novera (NOEN.L) has accepted an improved takeover bid from private equity-backed Infinis Energy, bringing to an end an takeover battle that dates back more than 18 months. Infinis further increased its offer to 77 pence per share, after buying a 3.5 percent stake from a shareholder at that […]
Mid Europa Partners has completed the first part of its acquisition of Invitel Holdings AS (AMEX: IHO), a fixed-line telecom and broadband internet services provider in the Republic of Hungary. The total deal involves three separate transactions: Mid Europa has paid $10.8 million to TDC AS for its 64.6% stake in Invitel; Mid Europa will next purchas […]
Apollo Global Management has completed its take-private acquisition of Midland, Texas-based Parallel Petroleum Corp. (Nasdaq: PLLL). The deal was valued at approximately $438 million, or $3.15 per share, including the assumption or repayment of around $351 million in debt. Apollo's equity commitment was $283.2 million.
MILAN (Reuters) – Loss-making Italian gaming company SNAI SpA has received a binding offer from private equity funds Bridgepoint Capital Ltd and Axa Investment Managers Private Equity Europe SA, it said on Thursday. SNAI, Europe’s sixth-biggest listed gaming company by market value, gave no financial details. The joint offer is for ‘reorganisation of the company’s gaming […]