PARIS (Reuters) – French IT services provider Atos Origin SA (ATOS.PA: Quote, Profile, Research, Stock Buzz) said it had received an offer from private equity firm Candover (CDI.L: Quote, Profile, Research, Stock Buzz) for its Atos Worldline unit several weeks ago but rejected it. Both the group’s supervisory board and strategy committee rejected the proposal […]
DETROIT (Reuters) – Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) is in talks with private equity group Cerberus Capital Management to sell its remaining 19.9 percent stake in struggling U.S. automaker Chrysler LLC. Cerberus, which bought 80.1 percent of Chrysler in May 2007 in a $7.4 billion deal just before a sharp slowdown in […]
NEW YORK (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) may sell Primerica, its life insurance unit, to insurer Protective Life Corp (PL.N: Quote, Profile, Research, Stock Buzz) and private equity firm J.C. Flowers & Co, Bloomberg reported on Wednesday. Flowers may invest in Protective, which could then buy Primerica, the news agency […]
Alpine Investors, a San Francisco-based private equity firm, is marketing its fourth fund, sources familiar with the situation said. The effort has a $175 million target with a $205 million hard cap, a slight jump over Alpine’s last fund. Alpine Investors III closed in March 2007 with $125 million in commitments. The firm is not using a placement agent and expects to hold a first close on November 1, one source said.
Warburg Pincus has sold ChartOne Inc. to Healthport, a portfolio company of Abry Partners. No financial terms were disclosed, although an earlier Dow Jones report said the deal was expected to include $150 million in debt financing being arranged by GE Capital and NewStar Financial. ChartOne is a Burlington, Mass.-based provider of medical record workflow solutions.
American Fibers and Yarns Co. has filed for Chapter 11 bankruptcy protection, in order to liquidate its assets. The company makes polypropylene fibers and yarns for home furnishings, automotive and industrial applications. Monitor Clipper Partners sponsored a management buyout of the company in late 1999 from a division of AP Amoco. www.afyarns.com
Rosetta Stone Inc., an Arlington, Va.-based provider of language learning software, has filed for a $115 million IPO. It plans to trade on the NYSE under ticker symbol RST, with Morgan Stanley and William Blair & Co. serving as co-lead underwriters. Rosetta Stone was acquired in a 2006 management buyout by ABS Capital Partners (46.1% […]
NEW YORK (Reuters) – The Federal Reserve relaxed bank ownership rules, but it only goes so far in solving existing problems — banks will not get all the capital they need, and private equity firms will not get the control positions they seek. Senior private equity executives said while the move was a step in […]
WASHINGTON (Reuters) – Private equity investor J. Christopher Flowers has been cleared by U.S. regulators to buy a small bank in Missouri and could use the purchase as a base from which to acquire other banks. The Office of the Comptroller of the Currency gave approval for Flowers to acquire First National Bank of Cainesville […]
PHILADELPHIA (Reuters) – Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the large U.S. savings and loan beleaguered by mortgage losses, is pressing ahead for a takeover deal by talking to multiple suitors, as well as exploring options to raise capital, sources familiar with the situation said on Tuesday. U.S. regulators are eager for […]