NEW YORK (Reuters) – Hicks Acquisition Co I Inc (TOH.A) on Friday said its stock and warrant holders approved its deal to buy privately held oil company Resolute Natural Resources Co. Hicks Acquisition Co is a special purpose acquisition company (SPAC) — a shell organization that raises money in an initial public offering to acquire […]
NEW YORK (Reuters) – China Investment Corp, the $200 billion sovereign wealth fund, has agreed to invest about $1 billion in Los Angeles-based Oaktree Capital Management, the Wall Street Journal reported on its website on Friday. Oaktree is expected to use the funds to invest in distressed debt and other fixed income assets, the Journal […]
Brett Pantazi has joined mid-market I-bank Nolan & Associates as a managing director. He will work out of the firm's St. Louis office, and previously was with National City Capital Markets and A.G. Edwards Capital Markets.
LONDON (Reuters) – Nycomed, the private equity-owned Swiss drugmaker, is looking at sweetening its bid for Solvay’s (SOLB.BR) drugs unit with the Belgian chemical and drug maker’s board set to meet to decide on the unit’s future. Sources familiar with the matter said Solvay’s board would meet on either Friday or Saturday to discuss the […]
NEW YORK (Reuters) – Western Union Co (WU.N) said a federal jury in Texas has ordered a unit of MoneyGram International Inc (MGI.N) to pay it $16.5 million for patent infringement over a money transfer system. Western Union alleged that MoneyGram Payment Systems Inc’s “FormFree” system essentially copied its own patented “Money Transfer By Phone” […]
Warburg Pincus has agreed to sell German credit card processor EasyCash to Ingenico SA for €290 million. www.easycash.de
(Reuters) Hospital operator Select Medical Holdings Corp’s initial public offering priced at $10 a share, below the estimated range, and raised $300 million, according to an underwriter. Select Medical, which operates 87 long term acute care hospitals and 948 outpatient rehabilitation clinics in the United States, cut the number of shares sold to 30 million, […]
LDC has sponsored an £11 million management buyout of Homeserve Emergency Services, a UK-based provider of home emergency fulfillment services to the domestic insurance industry, from Homeserve PLC.
JLL Partners and Warburg Pincus are facing an investor lawsuit in opposition to their plan to recapitalize Builders FirstSource Inc. (Nasdaq: BLDR). The two firms currently hold a combined 49.9% stake in the residential construction company, and have agreed to both a $75 million rights offering at $2 per share and a debt-for-equity swap. The suit claims the recap would not be in the best interest of the company or its other shareholders.
Ares Management and Teachers' Private Capital, owner of mattress maker Serta, have agreed to buy Simmons Bedding Co. from THL Partners. The deal would include Simmons filing for a prepackaged Chapter 11 bankruptcy, which would reduce its debt from $1 billion to around $450 million (filing within 30-6 days). The actual sale would be valued at $760 million, including equity from the purchaser and both debt and equity from certain existing Simmons lenders. Serta and Simmons would continue to be operated independently.