FRANKFURT (Reuters) – German chipmaker Infineon (IFXGn.DE) said on Monday it had raised at least 692 million euros ($986 million) in a share offer, with U.S. investment firm Apollo taking up fewer shares than expected. Infineon said Apollo could take up as many as 15 million shares or 1.4 percent of the company’s increased share […]
NEW YORK (Reuters) – A U.S. bank regulator is expected to move quickly in finalizing guidelines on private equity investments in failed banks, possibly easing one of its most controversial proposals, sources said on Monday. The rules could be finalized as soon as this month and could see a key measure that is being proposed […]
NEW YORK (Reuters) – U.S. high-yield companies will face a “financing wall” over the next five years, with problems peaking in 2013 and 2014 as debt taken on during the leveraged buyout boom comes due, Morgan Stanley said on Monday. Nearly 40 percent of current high-yield debt outstanding will come due in 2013 and 2014, […]
The Fee War: "Unlike many private-equity firms which have reduced fees, hedge funds aren't budging without concessions such as longer lock-up periods and commitments of at least $100 million, according to money managers and consultants." (Bloomberg) Rewarding Bad Actors: "If you aren't outraged, you haven't been paying attention." (Paul Krugman) The truth about grit: "Modern science builds the case for an old-fashioned virtue - and uncovers new secrets to success." ( Boston.com) Tarnished Brand: Well Matt Tiabbi and others seemed to have succeeded. According to a study conducted by the Financial Times, Goldman Sachs' brand and reputation have been "tarnished." (FT) That group of "others" includes Zero Hedge according to Wall Street Cheat Sheet. Back and Forth: Seeking Alpha's Robert Solomon is bearish on private equity, so he naturally disagrees with Economist's hopeful article from last week. (Seeking Alpha)
Lincolnshire Management has completed its $35 million investment in Wabash International Corp. (NYSE: WNC), a Lafayette, Ind.-based maker of semi-trailers for the North American market. Were Lincolnshire to exercise all the included warrants, the deal would give it a 44.2% ownership position.
Intra-Op Monitoring Services, a provider of intra-operative neurophysiological monitoring capabilities, has acquired San Antonio, Texas-based Neuraxis Monitoring Group. No financial terms were disclosed. Intra-Op is a portfolio company of HealthEdge Investment Partners and Concentric Equity Partners.
NEW YORK (Reuters) – Automotive parts maker Cooper-Standard Holdings Inc filed for Chapter 11 bankruptcy protection on Monday, saying it could not repay its debt amid a drop in U.S. auto sales. The maker of auto body sealing systems and fluid handling systems said it had outstanding debt of about $1.17 billion. “As a result […]
Huntsman Gay Global Capital has acquired a majority stake in Boca Raton, Fla.-based bedding manufacturer Hollander Home Fashions. No financial terms were disclosed, except that the transaction included both equity and debt financing. www.hollander.com
Hicks Acquisition Company I (AMEX: TOH), a blank check vehicle run by Tom Hicks, has agreed to acquire Resolute Natural Resources Co., an independent oil and gas company founded in 2004 by Natural Gas Partners. Hicks would value Resolute at $582 million, rename it Resolute Energy Corp. and apply to list it on the NYSE. NGP would remain a minority shareholder.
LONDON (Reuters) – Alternative asset manager HIG Capital has secured a stake in Netherlands-based publisher VNU Media alongside previous owner private equity firm 3i (III.L), HIG said on Monday. The new investment finalises a restructuring of VNU Media’s debt, said HIG, a specialist in investing in financial restructurings. 3i acquired VNU Media in a 300 […]