TORONTO (Reuters) – Arclin, a closely held maker of resins and other construction-related materials, said on Monday it filed for bankruptcy protection in Canada and the United States and that it reached an agreement in principle to restructure its debt with some of its key lenders. Under the terms of the agreement, Arclin will have […]
Emdeon Inc., a Nashville, Tenn.-based provider of revenue cycle management services for healthcare providers, has set its IPO terms to 21.45 million common shares being offered at between $13.50 and $15.50. It could raise upwards of $332 million at the highh end of its range, which is well lower than its original filing target of $460 million. […]
DETROIT/NEW YORK (Reuters) – A group of hedge funds that provided bankruptcy funding to Delphi Corp on Monday won a high-stakes auction to take control of the auto parts supplier, scuttling a rival deal brokered by the Obama administration. Delphi’s board of directors and GM both offered their support for the proposed deal that would […]
Avago Technologies Ltd. of Singapore has set its IPO terms to 36 million common shares being offered at between $13 and $15 per share. It plans to trade on the Nasdaq under ticker symbol AVGO, with Deutsche Bank Securities, Barclays Capital, Morgan Stanley and Citi serving as co-lead underwriters. Avago is the former semiconductor unit […]
Take-Downs: The New York Post puts a hit on Sun Capital Partners. Not once, but twice in one issue. When Wasn't Friendster For Sale? (I mean, ever since the social networking site turned down its first ever buyout offer and realized it wasn't getting another...) Either way, TechCrunch has obtained (perhaps in an attempt by Friendster's I-bankers Morgan Stanley to drum up some bids) Friendster's official marketing materials aimed at potential Asian suitors. (TechCrunch) The New Joblessness: The U.S. economy is not only shedding jobs at a record rate; it is shedding more jobs than it is supposed to. (NYT) Surprise! A buyout firm actually write its portfolio up this quarter! (Reuters) Buffet's Cartoon: The "Secret Millionaires Club" is the title of a new cartoon staring the Oracle of Omaha, in which Buffett's cartoon likeness ... dispenses investment advice to a motley crew of kids from Omaha. (Deal Journal)
Rowmark LLC, a portfolio company of Clearview Capital, has acquired the engravable products division of Delmar Products Inc. No financial terms were disclosed. PRESS RELEASE Rowmark, LLC, a portfolio company of Clearview Capital Fund II, LP of Old Greenwich, CT, has acquired the engravable products division of Delmar Products, Inc., effective at the close of […]
MUMBAI (Reuters) – U.S. funds T Rowe Price (TROW.O) and TPG are among anchor investors for Indian utility Adani Power’s initial public offer to raise as much as $623 million, two sources with knowledge of the deal said on Monday. Adani, which opens its 301.65 million share offer on Tuesday at a price range of […]
(Reuters) – Canadian call center operator TigerTel Communications Inc (TTL.V) said it signed a letter of intent to be taken private by 7212747 Canada Inc (SwiftCo), controlled by TigerTel’s chief executive and former chairman. If the deal is materialized, TigerTel shareholders will get 25 Canadian cents per share, a premium of about 30 percent based […]
BUDAPEST (Reuters) – Hungarian state-owned development bank MFB will provide a 100 million-euro loan to the chemicals firm BorsodChem which was acquired by British private equity fund Permira in 2006, the Financial Times said on Monday. MFB did not respond to written questions and BorsodChem could not be reached for comment. The loan will be […]
MILAN (Reuters) – Debt-laden Italian eyewear maker Safilo (SFLG.MI), which has been seeking to strengthen its balance sheet, postponed release of its first-half results on Monday after talks with private equity groups fell through. The maker of Gucci and Dior eyewear, which has net debt of more than 600 million euros ($856 million) and has […]