NEW YORK (Reuters) – McGraw-Hill Cos Inc (MHP.N) is leaning toward selling its money-losing BusinessWeek magazine to Bloomberg LP, although another bidder could still make a higher offer, a person familiar with the matter said. A deal still could take weeks, or could fall apart because of depressed magazine advertising and uncertainty in the financing […]
(Reuters) – U.S. investment company Starwood Capital Group Global LP is attempting to gain control of lodging chain Extended Stay Inc [ESAIN.UL], the Wall Street Journal said, citing people familiar with the matter. According to the paper, a group of creditors, led by Starwood Capital, and which also includes Fortress Investment Group LLC (FIG.N) and […]
Private Investment in Public Equity (PIPE), a new report published by mergermarket in conjunction with Kramer Levin Naftalis & Frankel LLP and Rodman & Renshaw LLC, highlights a broad range of drivers expected to stimulate PIPE investment activity in the next 12 to 18 months. The survey, conducted in the third quarter of 2009, canvasses […]
Earlier today I took a left out of the home office, and sat down next to the washer/dryer for a Reuters video segment on PE-backed IPOs. Topics include Talecris Biotherapeutics (the hit Cerberus has been thirsting for?), Dollarama/Dollar General (countercyclical indicators?) and Peak Sports (the Sequoia Capital IPO no one in the Valley is talking about):
Distressed investor Wilbur Ross is interested in betting on the casino sector, according to comments made during today's 2009 Reuters' Restructuring Summit. The sector has experienced turmoil in the recession thanks to its high fixed costs of operation and heavy reliance on junk bonds, he said. Ross is focused on possible investments in both U.S.-based and international casinos, and has purchased the debt of some struggling casino operators already. He hinted at a loan-to-own approach to the sector, saying his firm buys debt on the theory that a company will default.
NEW YORK (Reuters) – CIT Group Inc (CIT.N) shares surged on Tuesday following a newspaper report that hedge fund Paulson & Co wants to combine the cash-strapped lender with a Paulson-affiliated bank once known as IndyMac. But a person familiar with the matter denied the report. The New York Post, citing unnamed sources, said a […]
NEW YORK (Reuters) – RailAmerica Inc (RA.N), which owns and operates short-line and regional freight railroads in North America, has set the terms for its planned initial public offering, which is scheduled for October. RailAmerica said in an updated prospectus filed with U.S. regulators it expects to sell 21 million shares for between $16 and […]
Novacap Technologies has led an acquisition of Pkware, a Milwaukee-based provider of enterprise data-centric security and compression software. No financial terms were disclosed. Other members of the buying consortium included Maranon Capital, Garrett Investments and members of Pkware management.
Lakeside Steel Inc. (TSX-V: LS) said yesterday that it has not received a takeover approach from John Maneely Co., following a trade publication report that John Maneely Co. had Lakeside and another company “in its sights.” John Maneely is a portfolio company of The Carlyle Group. PRESS RELEASE Lakeside Steel Inc. (TSX-V: LS) (“Lakeside” or […]
ArcLight Capital Partners has acquired oil and natural gas pipelines in the deepwater Gulf of Mexico from ATP Oil & Gas Corp. (Nasdaq: ATPG) for $78 million.