Indian financial services group Religare Enterprises Ltd (RELG.BO) agreed to take a controlling stake in private equity firm Northgate Capital, as part of a $1 billion plan to build a global asset management business. Northgate, with $3 billion under management, is Religare's first U.S. deal and the Indian company is hoping to end the year with at least $60 billion to $65 billion of assets under management through further acquisitions, Religare Enterprises Chief Operating Officer Shachindra Nath told Reuters.
(Reuters) – U.S. private equity firm Apollo Management [APOLO.UL] is looking to pick up a stake in struggling U.S. jewellery retailer Zale Corp (ZLC.N), the Wall Street Journal said, citing people familiar with the matter. On Feb. 9, Zale had hired investment bank Peter J. Solomon to help it maximise its financial flexibility. Apollo’s investment […]
Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. Delta Petroleum Corp., the money-losing U.S. oil and gas producer whose largest shareholder is billionaire Kirk Kerkorian, rose 10 percent on takeover speculation, an analyst said. (Denver Post) Aryx Therapeutics Inc. hired investment bank Cowen & Co. to advise it on strategic alternatives after a potential deal for a long-term licensing agreement fell through. (WSJ) Sea Island Co., a resort owner and real estate developer based in Georgia has retained Goldman Sachs to explore strategic alternatives.
NEW YORK (Reuters) – Magazine and website publisher Reader’s Digest Association Inc emerged from bankruptcy after cutting debt by 75 percent, the company said on Monday. Reader’s Digest, which filed for Chapter 11 protection from creditors in August, comes out of bankruptcy with $525 million in exit financing and a new board of directors that […]
(Reuters) – Goldman Sachs (GS.N) plans to buy U.S.-based warehouse and logistics company Metro International Trade Services, a Goldman Sachs spokesman said on Friday. The official didn’t say how much the deal was worth. Metro runs a global network of London Metal Exchange approved warehouses for primary aluminum, aluminum alloy, copper, lead, nickel, plastic, steel, […]
Niska Gas Storage, a Gridley, Calif.-based owner and operator of natural gas storage assets in North America, has filed for a $402.5 million IPO. It plans to trade on the NYSE under ticker symbol NKA. No underwriters are listed. The Carlyle/Riverstone Global Power and Energy Fund acquired Niska Gas Storage in 2006 from EnCana Corp. […]
AMICAS Inc. (Nasdaq: AMCS), a Boston-based provider of image and information management solutions, said that it has received a $6.05 per share buyout offer from Merge Healthcare Inc. (Nasdaq: MRGE). This tops an existing $5.35 per share bid from private equity firm Thoma Bravo, which would have valued AMICAS at approximately $217 million. Raymond James & Associates is serving as financial advisor to AMICAS.
Top private equity dealmaker Edd Hendee died while skiing at Stratton Mountain in Southern Vermont
FRANKFURT/NEW YORK (Reuters) – Private equity firm Providence Equity Partners will list German cable television operator Kabel Deutschland on a stock exchange, abandoning its plan of a billion-euro sale to a buy-out firm, three people with knowledge of the matter said. The listing will lead to a higher valuation of the company than an outright […]
NEW YORK (Reuters) – Private equity giant Blackstone Group (BX.N) has come to an agreement to restructure its Hilton hotels chain debt, a source familiar with the situation said on Friday. The agreement with Hilton’s lenders would cut about $4 billion of debt at the hotel firm, the source said. The news was first reported […]