private equity

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Investor Group Gets Its Claws on PetSmart for $8.7B

Acquisition led by BC Partners will be 2014's largest private-equity deal

(Newser) - The question probably shouldn't be why someone just snatched up PetSmart for $8.7 billion, but why more investors weren't interested in acquiring this retailer. That's what a managing director of BC Partners—the private equity firm that led itself and other buyers in a strategic move... More »

Geithner Headed to Wall Street

Named president of private equity firm

(Newser) - Former Treasury Secretary Timothy Geithner, who played a central role in the government's response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC. The New York-based firm announced today that Geithner will serve as its president and managing director starting March 1. The company... More »

Romney's Next Job Will Be...

People close to Mitt speculate about his future

(Newser) - When the bell tolled on Mitt Romney's presidential ambitions, he told his staff they'd just seen his final political campaign. But, he vowed, "I will not fall off the map," the New York Times reports. Now speculation is swirling over the former CEO's next gig.... More »

Romney Event Hosted By Hedge Fund Sex Partier

Leder says he hasn't seen the video yet

(Newser) - Mitt Romney probably wishes you hadn't heard his impolitic talk at a closed-door fundraiser, and he's probably also hoping you don't hear much about the man who organized it: Private equity manager and Philadelphia 76ers co-owner Marc Leder. Mother Jones points out earlier reports painting Leder as... More »

Romney's Campaign a Lie of 'Historic Dimensions'

Mitt Romney rails against debt, but he got rich by creating it, Matt Taibbi argues

(Newser) - Mitt Romney's entire campaign is built around debt—he once described the nation's debt as a "prairie fire" getting "closer to the homes and children we love." Which makes the whole affair "a shimmering pearl of perfect political hypocrisy," writes Matt Taibbi for... More »

Why Obama's Bain Attacks Are Actually Working

They illustrate 'stark divide between capital and the rest of us': Michael Wolff

(Newser) - Barack Obama's attacks on Mitt Romney's Bain Capital tenure are working, especially in swing states, according to a recent New York Times article—even though Democrats' populist attacks tend to flop, and even though many Democrats, like Cory Booker, oppose them. Their thinking is simple, Michael Wolff explains... More »

Top Dems to Obama: Keep Attacking Bain

But a few worry strategy could hurt among independents

(Newser) - Some Democratic leaders may have their doubts about President Obama's attacks on Bain Capital —but most give the message the thumbs up and want him to keep at it. Mitt Romney "wanted to have this conversation," Pennsylvania's Democratic chair tells the Washington Post , which has... More »

'Masters of the Universe' Sure Have Fragile Egos

It would be funny, if it weren't so 'shameful': Paul Krugman

(Newser) - Paul Krugman has some choice words today for the titans of Wall Street, who can't seem to take a little criticism from the president. "It has, in a way, been funny to see how childish and thin-skinned the Masters of the Universe turn out to be," he... More »

President: Romney's Bain Record Is Fair Game

Mitt's job creation claims should be examined, says prez

(Newser) - President Obama isn't backing down from his attacks on Mitt Romney's record at Bain Capital. The focus on the private equity firm "is not a distraction. This is what this campaign is going to be about," he said at a press conference in Chicago yesterday. Romney'... More »

Private Equity Can Ruin Firms —and Still Profit

Tax loopholes, money tricks benefit bosses like Mitt Romney: James Surowiecki

(Newser) - Mitt Romney's opponents have slapped Bain Capital over layoffs, but private equity actually has little overall effect on job numbers. Instead, the crimes of such companies are centered on the way they make money, writes James Surowiecki in the New Yorker . What we should be concerned about is the... More »

Romney's Bain Had Loads of Profit, Bankruptcies

Wall Street Journal says Romney's firm didn't always turn things around

(Newser) - Mitt Romney has touted his time at Bain Capital as proof that he's the "turnaround artist" America needs, but an analysis of the companies he took over shows that may not be entirely true. The Wall Street Journal looked at 77 businesses Bain invested in under Romney's... More »

Yahoo Attracts Many Suitors, Weak Offers

$20.6B price way down from 2008

(Newser) - The good news: There are plenty of suitors shopping for the 19.9% minority stake Yahoo is peddling. The bad news: Everybody's looking for a deal. A Microsoft-linked private equity group has put in a bid that values the onetime behemoth at $20.6 billion, reports the Guardian —... More »

Carlyle Group Files for IPO

Huge private equity company to open its books

(Newser) - The Carlyle Group is going public. The mammoth private equity company has filed paperwork with the SEC for what’s planned as a $100 million initial public offering, the Washington Post reports. The move will open its books to public scrutiny, shining a light on the array of 270 disparate... More »

News Corp Trying to Sell Off MySpace

Bids over $100M expected

(Newser) - Remember when News Corp shelled out more than a half-billion dollars to buy MySpace? Well, now it’s trying to dump the once-popular social networking site, and it’s starting the bidding at more than $100 million, a source tells Reuters . The company expects to have five or more bids... More »

Facebook Deal Sparks Broad SEC Probe

Agency examines rules for private financing after Goldman investment

(Newser) - Goldman Sachs’ deal with Facebook might bring the SEC down on all manner of privately held stock purchases. The regulatory body has begun an investigation to see whether it needs to rewrite disclosure rules for privately held firms, and the very line dividing public and private firms, sources tell the... More »

AOL Weighing Yahoo Takeover

Private equity in talks to engineer 'reverse merger'

(Newser) - Takeover rumors are swirling around Yahoo again. AOL is in talks with several private equity firms over a possible "reverse merger" between the two Internet giants that would see AOL chief Tim Armstrong heading up the combined company, insiders tell the Wall Street Journal . One scenario being considered is... More »

Sold! Burger King Goes for $4B

3G Capital to acquire company for $4B

(Newser) - Burger King got itself a whopper of a deal: The country's second-largest hamburger chain will sell itself to private equity firm 3G Capital for $24 a share. Final price tag: about $4 billion, reports Bloomberg . That price is 46% more than Burger King’s $16.45 close on Tuesday, before... More »

For Sale: Burger King

Chain seeks whopper of a private equity deal

(Newser) - Burger King wants it its way, right away: The world's second-biggest burger chain is looking for a buyer to take it off the stock market. Burger King execs have been in talks with various private equity firms in recent weeks, sources tell the Wall Street Journal , naming British firm 3i... More »

Half a Trillion Dollars and Nowhere to Spend It

(Newser) - Seems the titans of Wall Street, and here we mean the private equity buyout shops including Warburg Pincus, Carlyle, TPG, and KKR, have amassed $500 billion to buy companies. Their problem? Not enough to buy and rising prices for what is out there. Plus it's a lot harder to leverage... More »

Hedge Funds Get 'Sweet Deal' in Finance Bill

Thanks to an army of lobbyists, they've dodged reforms

(Newser) - While Wall Street banks are being hauled before Congress for public reprimand, hedge funds and private equity firms have floated blissfully above the fray, thanks to an army of well-connected lobbyists. More than half of the 83 new lobbyists who signed up with the industry's two main trade groups last... More »

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