HONG KONG (Reuters) – Global and Chinese private equity funds including Bain Capital and FountainVest Partners have submitted bids to buy into a Chinese medical device maker backed by Citigroup (C.N), sources said on Tuesday. Citi Venture Capital International (CVCI) bought a roughly 70 percent stake in Landwind, a diagnostic imaging equipment distributor and manufacturer, […]
WASHINGTON (Reuters) – Australian blood products group CSL Ltd (CSL.AX) (CSL.AX) and smaller U.S. rival Talecris Biotherapeutics Holdings Corp have terminated their $3.1 billion merger agreement under pressure from U.S. antitrust regulators, the companies said on Monday. CSL, which also makes vaccines, said in August that it would buy Talecris, looking to boost its presence […]
Wilbur Ross on The Auto Industry: "Wilbur Ross sees trouble for suppliers who will need to restart parts production after Chrysler LLC and General Motors exit bankruptcy." (Auto News) ARRR: Footnoted.org finds evidence of pirates in SEC filings. (Freeseas) Barry Ritholtz: How to fix financial television. (The Big Picture)
LONDON (Reuters) – Lenders to Monier Group are poised to launch a takeover bid for the company before a looming debt deadline at the end of June, three sources with knowledge of the situation said on Monday. Monier’s current owner, PAI, is battling lenders for control of the heavily indebted French roofing company, a situation […]
Buyout shop Thomas H. Lee Partners has filed to take its credit unit public as a business development corporation (BDC). THL Credit Inc. seeks to raise $300 million in a blind pool IPO with no legacy investments, according to a June 1 filing with the Securities and Exchange Commission. Merrill Lynch, Citigroup Global Markets and Deutsche Bank […]
WASHINGTON/DETROIT (Reuters) – A U.S. Supreme Court justice granted on Monday a request to put on hold the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA. U.S. Supreme Court Justice Ruth Bader Ginsburg, in a one-sentence order, said the orders of the bankruptcy judge allowing the sale “are […]
Arcapita has agreed to sell restaurant operator Church’s Chicken to Friedman Fleischer & Lowe, according to a source close to the situation. The deal, advised on the sell side by Bank of America, represents a rare exit of a stable, growing company. Church’s Chicken has annual revenues that have grown between 8% and 10% through the recession as consumers trade down to less expensive dining. Within the past two weeks, San Francisco-based Friedman Fleischer was selected as the winning bidder from an auction that started with as many as ten buyout suitors, the source said. In April peHUB reported the sellers had narrowed the bidding pool to three or four parties. At the time, Atlanta-based Arcapita was seeking a full valuation of up to 8x Ebitda for the company.
Golden Gate Capital has agreed to acquire the J. Jill apparel brand from The Talbots Inc. (NYSE: TB) for approximately $75 million.
Entrust (Nasdaq: ENTU), a Dallas–based company that secures digital identities and information for consumers, reiterated its recommendation that shareholders vote in favor of a $114 million buyout by Thoma Bravo, after no superior offer emerged during a “go-shop” period. Entrust stockholders would receive $1.85 per share. www.entrust.com
Sopra Capital has acquired Provo, Utah-based the parent company of quick-serve restaurants Hogi Yogi, Teriyaki Stix and Yoasis Brands. No financial terms were disclosed.