Warburg Pincus has committed up to $300 million to the formation of RegionalCare Hospital Partners, a hospital acquisition platform focused on non-urban markets. It will be led by CEO Martin Rash, former CEO of Province Healthcare.
(Reuters) – U.S. buyout firm Silver Lake Partners is eyeing a possible takeover of Norwegian video conferencing systems maker Tandberg (TAA.OL), the Wall Street Journal said, citing people familiar with the matter. If struck at a typical premium to Tandberg’s current share price, the deal could be valued at more than $2 billion, the paper […]
LONDON (Reuters) – British petrochemicals company Ineos secured the overwhelming support of lenders for new terms on its debt, the company said on Thursday. The proposals, which include an easing of its financial covenants and a new business plan, were backed by 96 percent of loan holders, the company said. “The covenant reset provides the […]
LONDON (Reuters) – Manchester Airports Group (MAG), the last bidder in active discussions to buy London’s Gatwick airport from Ferrovial (FER.MC) unit BAA, has walked away over price disagreements, a person familiar with the matter said. The long-running sale of Britain’s second-busiest airport had once sought to raise more than 2 billion pounds, but the […]
TORONTO (Reuters) – Athabasca Potash Inc (API.TO), said on Thursday it is exploring a possible sale of all or part of the company, sending its shares soaring 42 percent. Saskatoon, Saskatchewan-based Athabasca said in March it had sufficient funds to complete a pre-feasibility study of its Burr project in Saskatchewan, but was seeking a strategic […]
DETROIT (Reuters) – Auto parts maker Delphi Corp has reached an agreement with its bankruptcy financing lenders and former parent General Motors for a plan to emerge from court protection, The New York Times reported on Thursday. Delphi reached a tentative agreement early Thursday for a deal that would supersede one set with private equity […]
LONDON (Reuters) – Lenders to directories firm Truvo are looking to appoint an adviser, two sources close to the situation said on Thursday, after the company appointed a financial adviser earlier this week. Truvo, a poster child for the debt-fuelled private equity boom, was formerly known as VNU World Directories and was the first European […]
NEW YORK (Reuters) – Fashion clothing maker Kellwood Co [KWD.UL], owned by private equity firm Sun Capital, said on Thursday it failed to renegotiate and extend a crucial $140 million bond issue before it matured. Kellwood, whose brands include Phat Farm and Sag Harbor, has been trying to forestall a looming debt deadline with an […]
Now that the weather has finally warmed up, plenty of M&A bankers are hoping the market for deals will as well (look no further than Goldman Sachs, where YOY M&A fees were down 54% this quarter, for proof). We've noticed a few more targets coming to market in recent weeks and have compiled a list of some of those we've come across. Our sources are various news reports and the Buyouts "Seeking Buyers" list. The following companies (among many others) are either formally considering "strategic alternatives," reported to be on the block or are rumored to be in sales talks. For prior lists, see below, and send any additions my way. Platinum Group Metals, based in Vancouver, is pursuing strategic alternatives. The business holds a 74% interest in large scale Platinum Group Metals reserve and resource in South Africa. Athabasca Potash Inc., a Canadian business, is using CIBC World Markets Corp. and Genuity Capital Markets to help it look at a potential sale.
GTCR isn’t swayed by the Obama administration’s recent spate of consumer finance protection regulations. In fact, the Chicago-based private equity firm plans to enter the sector with full force. Yesterday the firm announced it will dedicate $300 million to create a consumer credit platform led by Michael Rhodes, the former Vice Chairman of MBNA, which […]