(Reuters) – The bidding field for Royal Bank of Scotland’s (RBS.L) payment processing business has widened to three ahead of Monday’s final offer deadline, people familiar with the matter said on Friday. Private equity firms TPG and Clayton, Dubilier & Rice have opted to work alone on potential offers for WorldPay after on-off talks failed […]
(Reuters) – A consortium comprising TPG and Carlyle has submitted a final bid for Australian hospital group Healthscope, a spokeswoman for the consortium said on Friday. “We have put a bid in,” the spokeswoman but declined to say at what price. A spokesman for rival private equity firm Kohlberg Kravis Roberts & Co (KKR.N), which […]
(Reuters) – Philippine food-to-power conglomerate San Miguel Corp (SMC.PS) (SMCB.PS) said on Friday it has received bids for its food unit, San Miguel Pure Foods Co Inc (PF.PS), and was evaluating the offers. Ramon Ang, company president, said the bidders showed “very keen interest” for the stake sale. He did not give the number or […]
It's only been two days since George Steinbrenner died, but there already is a report that his passing could precipitate a sale of the New York Yankees. So I called Marc Utay, managing partner with Clarion Capital Partners, to see if he was interested. Utay, if you remember, made a bid to buy the Chicago Cubs in 2008. The beloved Cubbies were sold to the Ricketts family last year. "I have no reason to believe the Yankees would be up for sale," Utay said. He then added that were a process to begin, "everyone" would be interested.
Sverica International has acquired Syscon Justice Systems, a Vancouver-based provider of software solutions to domestic and international corrections facilities and police departments. No financial terms were disclosed.
(Reuters) – Private equity firm Carlyle Group’s $3.8 billion deal for NBTY Inc (NTY.N) is made up of $2.4 billion debt financing and the rest in equity, a source familiar with the situation said on Thursday. Of the debt financing, about $1.5 billion is in bank debt and about $900 million is bonds, or about […]
Will he or won’t he? That’s the question now facing Hugh Hefner and Playboy Enterprises. On Thursday, FriendFinder Networks Inc., owner of rival skin mag Penthouse, made a $210 million-plus offer for Playboy. FriendFinder's bid is $6.25 a share, a near 14% premium to the $5.50 a share offered by Playboy founder and mascot Hugh Hefner earler this week. Hefner can sweeten his bid, although some think he won't. "It all comes down to what Hefner wants to do," says Marc Bell, CEO of FriendFinder Networks. "Does he want to partner with us, cash out or keep things status quo?"
LONDON(Reuters) – U.S. buyout firm TPG and the private equity arm of Goldman Sachs (GS.N) on Thursday agreed to buy diaper-maker Ontex from rival Candover (CDI.L) in the year’s largest European buyout. The deal, which Candover said values Ontex at 1.2 billion euros ($1.53 billion) including debt, is Europe’s largest buyout this year, just […]
LONDON (Reuters) – Private equity firm Advent International is out of the race for Italian software firm TeamSystem, sources familiar with the situation said, leaving a narrowing field of buyout bidders facing off against trade rival Sage (SGE.L). Advent, Cinven and HG Capital had all submitted indicative bids for TeamSystem, being sold by rival buyout […]
ProSight Specialty Insurance Holdings Inc., a portfolio company of TPG Capital and GS Capital Partners, has agreed to acquire NYMagic Inc. (NYSE: NYM), a property and casualty insurance company that underwriters ocean marine, inland marine and non-marine liability insurance. The deal is valued at nearly $220 million, with NYMagic stockholders to receive $25.75 per share (23.5% premium to yesterday's closing price).