TPG Capital and the Canada Pension Plan have agreed to buy IMS Health (NYSE: RX), a provider of data on prescription drug sales, for $22 per share (50% premium to last Friday's closing price). The total deal would be valued at around $5.2 billion, including the assumption of debt. Goldman Sachs is providing the leveraged finance.
MELBOURNE(Reuters) – Australian toll road operator Transurban Group (TCL.AX) rejected a takeover approach from two Canadian pension funds on Thursday, but left the door open to a better offer, sending its shares up 20 percent. The move marks the latest swoop on an Australian infrastructure group by Canada’s pension funds, taking advantage of beaten-down share […]
Panolam Industries, a Shelton, Conn.-based decorative laminate company, has filed for Chapter 11 bankruptcy protection, as part of a previously announced debt restructuring agreement with lenders led by Apollo Capital Management and Eaton Vance Management. Genstar Capital and Sterling Group bought Panolam for $345 million in 2005.
McJunkin Red Man Holding Corp., a Tulsa-based industrial pipe supplier owned by GS Capital Partners, has completed its acquisition of Transmark Fcx Group BV, a Houston, Texas-based distributor of specialty valves and flow control equipment. No financial terms were disclosed. McJunkin canceled a proposed $750 million IPO earlier this year. www.mcjunkinredman.com
Quantum Energy Partners has formed Icon NGS LLC, a Houston-based acquisition platform focused on natural gas storage. The deal is being done in partnership with gas storage veterans Larry Bickle, Andy Lang and Mark Fullerton. No financial terms were disclosed.
Siguler Guff has acquired a minority equity stake in MDM Bank, one of Russia's largest private banks, for an undisclosed amount. Brunel Capital served as broker. MDM was formed this past August via the merger of URSA Bank and MDM-Bank.
WestView Capital Partners, a Boston-based private equity firm focused on growth equity opportunities the middle markets, has closed its second fund with $325 million in capital commitments. Probitas Partners served as placement agent.
NEW YORK (Reuters) – Spectrum Equity Investors-backed website Ancestry.com Inc (ACOM.O) priced its initial public offering of 7.4 million shares at $13.50 per share on Wednesday, within the expected range. Ancestry.com, which operates a website that allows people to trace their family roots by scouring online records, will begin trading on Nasdaq under the symbol […]
FRANKFURT (Reuters) – VEM, the owner of German generic drugmaker Ratiopharm, said it was satisfied with the first-round offers received for the forced sale of the unit, indicating that bidding could turn competitive. A spokesman for the Merckle family investment vehicle VEM said on Thursday it was positively surprised by the number of bids, which […]
BONN (Reuters) – German commercial broadcaster ProSiebenSat.1 Media AG (PSMG_p.DE) remained vague on targets for the full year after it reported a third-quarter core profit that missed expectations. ProSieben said on Thursday it saw increasing signs of economic stabilisation but would stay conservative in its planning because the market environment remained difficult. Chief Executive Thomas […]