Two can play the game of press leaks. If you read between the lines of yesterday’s reports on eBay’s potential divestitures of Skype, it appears both sides of the deal might be using the media to influence pricing. Before I get into it, I want to mention that a private equity investor told me his firm first received the Skype pitch around nine months ago. The inquiry was led by Mark Dyne of Europlay Capital Advisors. You may remember that name from Skype’s initial sale to eBay—Dyne was a member of Skype’s board (he didn't return calls for comment). My source’s firm passed on the deal because Skype isn’t profitable, he said. The company’s profitability has been debated, but it had $550 million in revenues last year, according to its annual report. So, The New York Times broke the news, reporting that Skype’s founders had been talking with private equity backers to help them buy the company back from eBay. The crucial pricing details are:
Ancor Capital Partners has acquired FCA Packaging Products LLC, a Moline, Ill.-based maker of industrial shipping containers. No financial terms were disclosed. William Blair & Co. advised FCA on the sale.
SAN FRANCISCO (Reuters) – A proposed buyout of eBay Inc’s Skype led by private equity, including Warburg Pincus and Kohlberg Kravis Roberts, and the Web telephone company’s co-founders is unlikely to be completed, the Wall Street Journal cited sources as saying on its blog on Monday. The founders of the service, which eBay bought in […]
NEW YORK (Reuters) – Chrysler’s creditors plan to make a counteroffer to the U.S. Treasury this week, in which they might ask for equity in a firm combining Chrysler with potential partner Fiat SpA (FIA.MI) in exchange for concessions, the Wall Street Journal reported, citing people familiar with the matter. Sources told Reuters on April […]
FRANKFURT (Reuters) – German department store chain DWW Woolworth GmbH & Co, owned by British investor Argyll Partners, filed for insolvency on Tuesday, a court said. The Frankfurt district court appointed Ottmar Hermann as interim administrator, a court spokesman said. The news comes just months after Britain’s Woolworths, the 100-year-old sweets-to-DVD retailer, went into administration […]
Quarry Capital has proven that with a little perseverance, a first-time fund can do its first-ever deal in even the most volatile deal-making market. Granted, it's a very small deal. But the firm is happy to take Royal Pet Supplies off its owners’ hands. Quarry will acquire 100% of the family-run company and its owners will retire. Brent Johnstone, Managing Director with Quarry Capital, said that while the pet supply industry is not necessarily “recession-proof” it is “recession-resistant.” Royal Pet Supplies distributes pet supplies to independent pet shop operators, who he said have been stable through the recession. "People are still spending money on their pets because it is a place of comfort and a source of happiness."
Wind Point Partners has acquired Hearthside Food Solutions, a Grand Rapids, Mich.-based contract manufacturer of specialty food products. No financial terms were disclosed.
Thoma Bravo has agreed to acquire Entrust (Nasdaq: ENTU), a Dallas–based company that secures digital identities and information for consumers, enterprises and governments. The deal’s total equity value is $114 million, with Entrust stockholders to receive $1.85 per share. Barclays Capital is advising Entrust, which may solicit alternative offers over the next 30 days.
MUMBAI (Reuters) – Indian mid-sized IT outsourcer Tech Mahindra (TEML.BO) won an auction to buy Satyam Computer Services Ltd (SATY.BO), the company at the heart of India’s biggest corporate scandal. Satyam said on Monday Tech Mahindra agreed to buy a 31 percent stake at 58 rupees per share — a 23 percent premium to Satyam’s […]
Multi Packaging Solutions, a portfolio company of Irving Place Capital, has acquired certain assets of Ivy Hill Corp., a New York-based supplier of packaging solutions to the multi-media and consumer markets. No financial terms were disclosed.