Private equity has been getting a barrage of popular press coverage, due largely to mega-deals for companies like HCA, Aramark and VNU (Kinder Morgan, for whatever reason, keeps being treated like a middle child). Most of said coverage, however, seems to have been assigned by unimaginative editors who want to know either: “Are large fund […]
I appeared on CNBC’s SquawkBox program this morning, in order to discuss The Financial Times’ inane suggestion that Microsoft could be next on the private equity shopping list. As I told the equally-skeptical anchors, Snakes on a Plane will win a best picture Oscar before Microsoft gets acquired by LBO firms. For those of you […]
Burger King is supposed to represent the best of what private equity has to offer. Unfortunately, it also represents the worst. For the uninitiated: Burger King was acquired in 2002 by Bain Capital, Goldman Sachs Capital Partners and Texas Pacific Group. The transaction was valued at around $1.5 billion, including just $300 million in equity. […]
A popular press sport right now is to identify public companies that could be snatched up by leveraged buyout firms. Lots of attention being paid to perceived under-valuations, P/E ratios, lender proclivities, etc. But rather than providing a list of companies that could receive bids, let’s approach it from a different angle: How many U.S.-listed […]