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Private Equity

Taking public companies private was the hot new paradigm in mergers and acquisitions, until the credit crisis walloped the markets, and a lot of hot deals suddenly cooled

Stories

Stories 61 - 80 of 133

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August 2007
- Banks Might Derail Home Depot Deal
  
  Wall Street Journal | Aug 24, 07 7:10 AM CDT
  
  (Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have threatened to withdraw from a deal that may become the first casualty of the credit crunch. More »
- Credit Jitters May Put KKR Offering on Ice
  
  Times (UK) | Aug 23, 07 7:45 AM CDT
  
  (Newser) - The Times of London claims that buyout firm KKR has postponed plans for a $1.25B float and a public listing because of the fallout from turbulent credit markets. The company had planned its IPO this September but has reportedly pulled back due to waning investor confidence following the subprime collapse. KKR, however, claims that the IPO is continuing full steam ahead. More »
- Blue Chips Hop Slightly on Fed Confidence
  
  Bloomberg | Aug 20, 07 5:05 PM CDT
  
  (Newser) - The Dow was up 42.27 to close at 13,121.35, as winners outnumbered losers about 7 to 6—the third straight positive day on Wall Street. But short-term treasury yields plummeted as speculation increased that the Fed will cut the benchmark rate at its next meeting. Volume on the market was low—about 1.5 billion—as retail and mining led the charge. More »
- HSBC Shops for Controlling Stake in KEB
  
  Financial Times (UK) | Aug 20, 07 3:29 PM CDT
  
  (Newser) - HSBC is in talks to buy a controlling stake in Korea Exchange Bank from the U.S. private equity group Lone Star. A local newspaper has reported that the deal would be worth $4.5 billion. HSBC wants to strengthen its presence in the Korean economy, and Lone Star has been looking to unload its share for years. More »
- Where is Stephen Feinberg Taking Chrysler?
  
  Portfolio | Aug 15, 07 1:38 PM CDT
  
  (Newser) - Portfolio does its best to profile Stephen Feinberg—the ultra-secretive, ultra-cutthroat CEO of Cerberus Capital Management—without talking to him. Feinberg avoids the media like the plague, preferring to bring faltering companies into the black in secret, and his shadowy plans for new stepchild Chrysler are no exception. More »
- Nasdaq Debuts $100M Fat Cat Exchange
  
  Washington Post | Aug 14, 07 9:35 AM CDT
  
  (Newser) - Nasdaq is launching a regulation-free private stock market for the super-rich, offering those who can pony up at least $100 million access to the first-ever private investment exchange. Any private company can then sell stock to these elite shareholders, without having to worry about making their finances public—or being subject to federal regulation, the Washington Post reports. More »
- In Nardelli, Chrysler Found Its Maverick
  
  Reuters | Aug 7, 07 4:30 AM CDT
  
  (Newser) - Former Home Depot chief Bob Nardelli has a reputation for being a brusque, hard-edged maverick, and that’s exactly what his new bosses at Chrysler want, Reuters reports. Cerberus Capital Management hopes to stem losses at the automaker by cutting costs, particularly in the delicate area of unionized workers. Nardelli’s gruff style may improve numbers—or it may wind up confounding labor negotiations. More »
- Ex Home Depot Chief Takes Chrysler Wheel
  
  Wall Street Journal | Aug 6, 07 9:03 AM CDT
  
  (Newser) - In a major shake up, Chrysler 's chief executive will be replaced by former Home Depot boss Bob Nardelli, the Wall Street Journal reports. An auto official called Nardelli a "real change agent" in an industry rocked by foreign competition. Nardelli is the second auto-industry neophyte to be named recently to head one of the "Big Three" car companies. More »
July 2007
- Corporate Buyers Muscle In on Private Equity Deals
  
  Wall Street Journal | Jul 31, 07 6:40 AM CDT
  
  (Newser) - Corporations have the upper hand over private equity firms in acquisitions for the first time in years because of chaos in the debt markets, the Wall Street Journal reports. Private equity firms are stalled until the credit situation stabilizes and they can sell off some of their debt. Corporate buyers have no such burden and can offer cash, stock or both. More »
- Schumer Bucks Party on Wall St. Tax Hikes
  
  New York Times | Jul 30, 07 3:07 PM CDT
  
  (Newser) - Rejecting populist piety, Chuck Schumer is opposing legislation that would double tax rates for private equity and hedge fund executives, arguing that he’s torn over the measures but contending that they unfairly target an industry critical to his constituency. The New York Times reports the senator, the only Democrat on both committees with jurisdiction, has massive influence on the matter. More »
- Big Biz Lobbyists Sit Out Private Equity Tax Fight
  
  Financial Times (UK) | Jul 30, 07 11:51 AM CDT
  
  (Newser) - Two big business lobbying groups are sitting out the fight in Congress over increasing taxes on private-equity earnings—in part, the Financial Times reports, because many of their members are threatened by the rise of private equity. Big firms like Blackstone pay traditional banks hefty fees for the underwriting their IPOs, but they also take business away from them. More »
- Wall Street Jittery After Drop
  
  New York Times | Jul 30, 07 4:47 AM CDT
  
  (Newser) - Wall Street has a case of nerves. After last week's market drop, the worst in five years, investors shouldn't expect any more "Merger Mondays" for some time to come, the New York Times predicts. Instead opening the week with big new deals, to send the market to new highs, banks and private equity firms spent the weekend trying to figure out what to do with higher debt costs on pending deals. More »
- Credit Crunch Rocks LBOs
  
  Wall Street Journal | Jul 27, 07 6:27 AM 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 »
- Banks Put Hold on Chrysler Debt Sale
  
  Wall Street Journal | Jul 26, 07 9:03 AM CDT
  
  (Newser) - Banks yesterday postponed the sale of $12 billion of debt intended to finance the deal that will split off Chrysler from parent DaimlerChrysler. The Journal reports that the holdup is part of a global pinch on the market for corporate debt, and escalating borrowing costs have the potential to slow down a host of high-profile buyouts. More »
- Barclays Bid Gets Backing From the East
  
  BBC | Jul 23, 07 12:06 PM CDT
  
  (Newser) - The Chinese and Singaporean governments have invested almost $5 billion in Barclays, helping the firm float more cash for its bid for ABN. The state-run companies would invest even more if the bid succeeds, which would leave the Chinese state with a holding of 7.7% of the world's new largest bank. More »
- $24B Buyout Buzz Boosts Macy's Shares
  
  Bloomberg | Jul 19, 07 4:50 AM CDT
  
  (Newser) - Shares in Macy's soared amid reports of a pending $24-billion buyout plan by KKR and Goldman Sachs, reports Bloomberg . Stock rose $3.06—7.6%—to $43.09 after Women's Wear Daily reported the news. The Wall Street firms would pay $52 a share—a 30% premium on Wednesday's close, according to the report. More »
- Private-Equity $$ Flow to GOP
  
  Wall Street Journal | Jul 17, 07 3:36 PM CDT
  
  (Newser) - As Democrats push higher taxes for private-equity firms, the firms are reciprocating by funneling more money to the other side of the aisle, the Wall Street Journal reports. Figures for 2008 presidential campaign giving show GOP contenders receiving 53% of donations ma