MELBOURNE, Oct 22 (Reuters) – Asciano Ltd (AIO.AX: Quote, Profile, Research, Stock Buzz), Australia’s biggest port and rail operator, said a private equity consortium led by TPG may seek further discussions with the company after being rebuffed on a A$2.9 billion ($1.9 billion) approach earlier this year. Asciano is trying to sell assets to help […]
TOKYO (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) is proposing to buy about 20 percent of Chrysler and bring the troubled U.S. automaker into the Franco-Japanese alliance with Renault SA (RENA.PA: Quote, Profile, Research, Stock Buzz), the Detroit News reported on Wednesday, citing sources familiar with the situation. The offer is […]
NEW YORK (Reuters) – General Motors (GM.N: Quote, Profile, Research, Stock Buzz) is looking for a large investment from outside investors as a possible alternative to a deal with Chrysler LLC, the Financial Times reported on its website on Tuesday. The hoped for capital injection would be similar to recent investments by billionaire investor Warren […]
MTS Health Investors has acquired DNA Diagnostics Center Inc., a Fairfield, Ohio-based DNA testing lab. No financial terms were disclosed. The seller was company founder Richard Lee.
LONDON (Reuters) – Private equity houses are having to inject more capital into the companies they own to shore up balance sheets and stave off default as increasing numbers of private equity-owned firms are showing signs of stress. Private equity groups invested heavily in highly leveraged deals in the 12 to 18 months leading up […]
FRANKFURT (Reuters) – Global private equity faces a dry spell in takeovers for at least two years due to the credit market crisis and firms will need to innovate to survive, a private equity specialist at U.S. bank Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) said on Tuesday. “We won’t get signs of a […]
We've seen the size of PE bankruptcies increase as the year toils on, with Linen's ‘N Things (purchased by Apollo for $1.3 billion) narrowly topping Mervyns (purchased by Sun Capital and Cerberus for $1.2 billion). Those could soon be outdone by KKR's C$3.2 billion purchase of Masonite International, if the company files for bankruptcy. It's not a sure bet, but is beginning to look better than even money. On Friday, the company went into default on a $42 million interest payment to its $768.9 million senior sub notes due 2015. Yesterday S&P lowered its rating to D and Moody's lowered its corporate rating two levels to Caa3. This payment miss is surprising for two reasons. ...
Arbor Investments has acquired a majority stake in Bradshaw International Inc., a Rancho Cucamonga, Calif.–based wholesale distributor and market of kitchen and cleaning products. No financial terms were disclosed. www.goodcook.com
Legends Hospitality Management LLC, a Newark, N.J.-based provider of sports business services, has been formed by The New York Yankees, the Dallas Cowboys, Goldman Sachs and CIC Partners. No financial terms were disclosed. Legends will be led by Michael Rawlings, former president of Pizza Hut.
LONDON (Reuters) – European secondary loan prices breached 70 percent of face value for the first time on Monday, reaching new record lows of 68.76 that continue to inflict pain on mark-to-market investors, according to RLPC data. The low secondary loan prices reflect heavy forced selling by stressed investors that has also weighed on the […]