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November 21, 2008 9:26:15 CST

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LBOs

LBOs news stories

6 Stories

Credit, Economy Bring
M&A Action to a Crawl

After a golden year for LBOs, experts see a chilling of a once-hot market

Bloomberg Bloomberg Dec 18, 07 11:40 CST
(Newser) - The slowing economy and financing costs that have more than doubled since June because of the subprime collapse could ice the pace of mergers and acquisitions in 2008, Bloomberg reports. After a record $3.9 trillion in deals in 2007, analysts predict transaction value could plummet 20%. "The mega-LBO is dead,'' says an ABN Amro takeover expert. More »

Home Depot Deal Renovated

Price for wholesale unit slashed

Wall Street Journal Wall Street Journal Aug 27, 07 5:37 CDT
(Newser) - The sale of Home Depot's wholesale supply unit—threatened by the credit crisis —is going ahead after tense negotiations between Home Depot, private equity firms buying the company and banks providing the financing. Home Depot slashed its price 18% to $8.5 billion and guaranteed some of the loans to close the deal, the Wall Street Journal reports.      More »

Credit Crunch Rocks LBOs

Fears of risky debt ripples through global markets

Wall Street Journal Wall Street Journal Jul 27, 07 6:27 CDT
(Newser) - Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which just weeks ago were predicting acquisitions worth $100 billion and more, are now finding large-scale borrowing too expensive to make deals worthwhile. More »

More about:  Wall Street • private equity • finance • leveraged buyouts • LBOs

Private Equity Pounces on Nuveen

$5.75B Madison Dearborn offer is
highest ever for asset-management firm

Bloomberg Bloomberg Jun 20, 07 1:32 PM CDT
(Newser) - Private equity fund Madison Dearborn has made the biggest-ever play for an asset management firm, offering $5.75 billion to buy out Chicago-based Nuveen Investments. The $65-per-share offer—a 20% premium over Nuveen's closing price yesterday—signals the growing demand for cash-rich money-management firms as buyout targets. More »

More about:  private equity • buyout • asset management • LBOs • Madison Dearborn

Blackstone Honchos Cash In on IPO

Barbarians at the gate will arrive flush with cash—$2.33B of it

Bloomberg Bloomberg Jun 11, 07 9:04 CDT
(Newser) - And the billionaires get richer. Blackstone founders Steve Schwarzman and Pete Peterson will collect a combined $2.33 bil from the private equity giant's planned IPO, which could take place as early as late June. Schwarzman will keep a 24% stake in the $32B company, worth just under $450M, and the 80-year-old Peterson will cash out with 4% equity, netting him $1.9B. More »

More about:  private equity • IPO • Blackstone Group • LBOs • Steve Schwarzman • Pete Peterson

Hot LBO Market
Takes Hit

As big-time deals struggle to manage debt, beware the Trojan piggy bank

Wall Street Journal Wall Street Journal Jun 8, 07 9:40 CDT
(Newser) - The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale Semiconductor Holdings—have turned sour, with the companies struggling to generate enough cash to pay down debt after soft quarters. More »

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