Nunavut Iron Ore, which is backed by private equity firm Energy and Minerals Group, sweetened its offer for Baffinland Iron Mines on Wednesday, Reuters reported. Nunavut Iron increased its hostile bid to $1.40 Canadian dollars ($1.40), up from $1.35. The group wants to take a 60% stake in Baffinland. ArcelorMittal, the world's largest steel producer, previously bid C$1.25 a share in a friendly buyout offer, and has no plans to increase the bid, Reuters reported. Baffinland controls a vast iron-ore deposit in the Canadian Arctic.
Canadian firm Alberta Investment Management Corp. will acquire a 50% stake in Santiago, Chile-based toll road operator Sociedad Concesionaria Autopista Central, joining shareholders Abertis Infraestructuras S.A. and Santander Private Equity S.A. Autopista Central is a 61-kilometer, six-lane highway that connects the Santiago suburbs with the Pan-American Highway.
Billionaire investor Carl Icahn got the go-ahead Tuesday from the Federal Trade Commission for his $665 million cash takeover of Dynegy Inc., Reuters reported. Icahn’s acquisition of the power producer follows a failed takeover attempt by buyout shop Blackstone Group.
Private equity firms the Carlyle Group, MBK Partners, Affinity Equity Partners and Corsair Capital are among the groups shortlisted to help finance Hana Financial Group’s acquisition of Korea Exchange Bank, Reuters said, citing a report by online news service MoneyToday. Hana is planning a $1 billion share sale to help fund its $4.1 billion acquisition of KEB.
A private equity fund run by Korea Development Bank has completed its purchase of a 1 trillion won ($874.8 million) stake in Daewoo Engineering & Construction Co., Reuters reported.
Private equity firm Warburg Pincus will acquire ReSearch Pharmaceutical Services Inc. in a deal valued at roughly $227.3 million, Reuters said. The firm has offered $6.10 per shares for the clinical research firm.
Blackstone Group has entered a preliminary bid for the asset portfolio of Australian shopping center owner Centro Properties Group, Reuters reported, citing an article in the Wall Street Journal. The firm is specifically interested in Centro’s 600 U.S. properties, Reuters said. Centro manages an $18.8 billion portfolio of shopping malls in the U.S., Australia and New Zealand. The company is mired in debt, and is selling the assets to put itself on stronger financial footing.
The private equity firm Leonard Green & Partners may launch a hostile bid for warehouse club operator BJ's Wholesale Club Inc. if the company does not initiate an auction in the coming weeks, Reuters reported, citing an article in the New York Post. BJ’s Wholesale has said previously that it will begin the auction process after the New Year.
GCP Capital Partners will spend $23 million to acquire a controlling stake in ClearView Risk Holdings, operator of Texan insurance broker Southwest Risk. As part of the investment, said Bob Deutsch, managing director, GCP is also plotting to make strategic acquisitions to support ClearView’s development. Aside from GCP, Bryan Wilburn, the founder and CEO of Southwest […]
PAI Partners, which kicked off a sale earlier this month for its 50% stake in yogurt-maker Yoplait, will shortlist final bidders in February, according to the French daily La Tribune. The French buyout shop will reportedly make a final decision on the buyer in March. Bids are likely to come in during the second half […]