SAN FRANCISCO (Reuters) – A proposed buyout of eBay Inc’s Skype led by private equity, including Warburg Pincus and Kohlberg Kravis Roberts, and the Web telephone company’s co-founders is unlikely to be completed, the Wall Street Journal cited sources as saying on its blog on Monday. The founders of the service, which eBay bought in […]
NEW YORK (Reuters) – Chrysler’s creditors plan to make a counteroffer to the U.S. Treasury this week, in which they might ask for equity in a firm combining Chrysler with potential partner Fiat SpA (FIA.MI) in exchange for concessions, the Wall Street Journal reported, citing people familiar with the matter. Sources told Reuters on April […]
FRANKFURT (Reuters) – German department store chain DWW Woolworth GmbH & Co, owned by British investor Argyll Partners, filed for insolvency on Tuesday, a court said. The Frankfurt district court appointed Ottmar Hermann as interim administrator, a court spokesman said. The news comes just months after Britain’s Woolworths, the 100-year-old sweets-to-DVD retailer, went into administration […]
Quarry Capital has proven that with a little perseverance, a first-time fund can do its first-ever deal in even the most volatile deal-making market. Granted, it's a very small deal. But the firm is happy to take Royal Pet Supplies off its owners’ hands. Quarry will acquire 100% of the family-run company and its owners will retire. Brent Johnstone, Managing Director with Quarry Capital, said that while the pet supply industry is not necessarily “recession-proof” it is “recession-resistant.” Royal Pet Supplies distributes pet supplies to independent pet shop operators, who he said have been stable through the recession. "People are still spending money on their pets because it is a place of comfort and a source of happiness."
Wind Point Partners has acquired Hearthside Food Solutions, a Grand Rapids, Mich.-based contract manufacturer of specialty food products. No financial terms were disclosed.
Thoma Bravo has agreed to acquire Entrust (Nasdaq: ENTU), a Dallas–based company that secures digital identities and information for consumers, enterprises and governments. The deal’s total equity value is $114 million, with Entrust stockholders to receive $1.85 per share. Barclays Capital is advising Entrust, which may solicit alternative offers over the next 30 days.
MUMBAI (Reuters) – Indian mid-sized IT outsourcer Tech Mahindra (TEML.BO) won an auction to buy Satyam Computer Services Ltd (SATY.BO), the company at the heart of India’s biggest corporate scandal. Satyam said on Monday Tech Mahindra agreed to buy a 31 percent stake at 58 rupees per share — a 23 percent premium to Satyam’s […]
Multi Packaging Solutions, a portfolio company of Irving Place Capital, has acquired certain assets of Ivy Hill Corp., a New York-based supplier of packaging solutions to the multi-media and consumer markets. No financial terms were disclosed.
NEW YORK (Reuters) – Standard & Poor’s Rating Services on Friday lowered its debt ratings on Chrysler loans due in 2013 and 2014, citing a lower potential recovery by debtors in the event of payment defaults by the carmaker. Standard & Poor’s said it lowered by two notches its issue-level ratings on Chrysler’s senior secured first-lien […]
Quarry Capital has acquired Royal Pet Supplies Inc., a pet supplies distributor founded more than 60 years ago. No financial terms were disclosed.