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Private Equity

Started by Imperator; Last updated by SeacoastNH

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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 81 - 100 of 159

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September 2007
- Blackstone Lobbying Backfires
  
  Bloomberg | Sep 21, 07 8:10 PM CDT
  
  (Newser) - Private equity firms launched their first coordinated effort at lobbying this year—and overshot by a long stretch, Bloomberg reports. Blackstone and 11 other firms joined hands to fight a tax hike on carried interest—fund managers' share of profits—and have gone so far as to argue that the lower rate they enjoy spurs development in poor communities. As one GOP congressman put it, "When they start talking about women and children, they're overreaching.'' More »
- KKR Abandons Harman Buyout
  
  Bloomberg | Sep 21, 07 6:39 PM CDT
  
  (Newser) - Kohlberg Kravis Roberts and Goldman Sachs today called off their deal to buy out audio giant Harman International for $8 billion. The firms announced that a "material adverse change in Harman's business has occurred,'' one of the limited circumstances in which they could abandon the deal without getting stuck with a $225 million break-up fee, Bloomberg reports. More »
- KKR Prepares for Test of Credit Markets
  
  Washington Post | Sep 11, 07 8:17 AM CDT
  
  (Newser) - Kolhberg Kravis Roberts is pushing forward with some of the biggest deals in US history, but the iconic buyout firm finds itself under unprecedented scrutiny. Analysts say the huge deals KKR has pending will be a test of the struggling credit markets, the Washington Post reports: If they don't go through, the age of private equity may be over. More »
- House Targets Hedge-Fund Tax Deferments
  
  Wall Street Journal | Sep 7, 07 7:56 AM CDT
  
  (Newser) - Democratic Rep. Rahm Emanuel said yesterday he will draft a bill to close a loophole that allows private-equity and hedge-fund managers to defer taxes on income earned by funds abroad. Emanuel proposes to limit such tax deferrals to $19,500—the amount anyone can put into a retirement account tax-free. A Senate bill passed earlier this year included a cap of $1 million on deferrals. More »
August 2007
- Life Without Chrysler Suits Daimler Fine
  
  BusinessWeek | Aug 30, 07 4:31 PM CDT
  
  (Newser) - Rid of the Chrysler albatross since its May sale, German automaker DaimlerChrysler says its profits are taking off, Business Week reports. CEO Dieter Zetsche said yesterday the company—which aims to strip "Chrysler" from its name this fall—is likely to beat his estimates of 7% profit this year, and hit 10% by 2010, which would boost it past luxury rival BMW. More »
- Home Depot Deal Renovated
  
  Wall Street Journal | Aug 27, 07 5:37 AM 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 »
- 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 »

Stories 81 - 100 of 159

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[Images (5)]

[Videos (1)]

Filer from 1992 shows American Finance magnate Kirk Kerkorian. Billionaire investor Kirk Kerkorian is proposing to pay $4.5 billion in cash for Chrysler, as parent DaimlerChrysler AG examines what to do with its troubled U.S. automaking arm. A deal would put Kerkorian in charge of Chrysler a decade...

Filer from 1992 shows American Finance magnate Kirk Kerkorian. Billionaire investor Kirk Kerkorian is proposing to pay $4.5 billion in cash for Chrysler, as parent DaimlerChrysler AG examines what to... (Associated Press)

Billionaire real estate investor Sam Zell smiles during an interview in Chicago in this March 20, 2007 file photo. Tribune Co. has accepted a buyout offer from real estate investor Sam Zell in a deal valued at about $8.2 billion, the media company said Monday, April 2, 2007. Tribune...

Billionaire real estate investor Sam Zell smiles during an interview in Chicago in this March 20, 2007 file photo. Tribune Co. has accepted a buyout offer from real estate investor Sam Zell in a deal... (Associated Press)

This image obtained 19 March, 2007 shows chairman and CEO of Blackstone

This image obtained 19 March, 2007 shows chairman and CEO of Blackstone (Getty Images)

(FILES) US flags flutter in the wind underneath a sign displaying...

(FILES) US flags flutter in the wind underneath a sign displaying... (Getty Images)

(Index Stock (http://www.indexstock.com))

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Jeff Immelt on the Impact of Private Equity (cnportfolio (YouTube))

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Related Threads

Mergers & Acquisitions • Credit Market Chaos • Blackstone Goes Public • Hedge Funds • Chrysler • The Markets • Crime • Downtrodden Detroit • The Big Banks • DaimlerChrysler Split

Background

Private Equity: Past, Present, Future
Sethi, Arjun

PDF available for download.

» Read more about Private Equity: Past, Present, Future at Sethi, Arjun

Biography of Kirk Kerkorian
Wikipedia

Kirk Kerkorian (born June 6, 1917) is an Armenian American billionaire, and president/CEO of Tracinda Corporation, his private holding company based in Beverly Hills, California. Kerkorian is known as one of the important figures in shaping the city of Las Vegas, Nevada, and the "father of the megaresort."...

» Read more about Biography of Kirk Kerkorian at Wikipedia

Sam Zell Biography
Milken Institute

Sam Zell is Chairman of Equity Group Investments LLC. He began his career in real estate while a university student and soon thereafter founded his current company, an entrepreneurial investment firm based in Chicago. Zell is also chairman of the board of various corporations, including Anixter International,...

» Read more about Sam Zell Biography at Milken Institute

Hoover's Fact Sheet for Carlyle
Hoover's

The Carlyle Group, with more than $50 billion under management, is one of the world's largest private investment firms. Moreover, it seems that Carlyle likes to keep all options open: Undertakings include management-led buyouts, minority equity investments, real estate, venture capital, and leveraged...

» Read more about Hoover's Fact Sheet for Carlyle at Hoover's

Hoover's Fact Sheet for Blackstone
Hoover's

The Blackstone Group is coming out. Founded in 1985 by industry veterans Peter Peterson and Stephen Schwarzman, the once-secretive company laid bare its finances and corporate structure in filing one of the biggest IPOs in the history of mankind. The massive private equity firm owns stakes in more than...

» Read more about Hoover's Fact Sheet for Blackstone at Hoover's

Hoover's Fact Sheet on KKR
Hoover's

The barbarians at the gate are now knocking politely. The master of the 1980s buyout universe, Kohlberg Kravis Roberts (KKR) has shed its hostile takeover image for a kinder, gentler, buy-and-build strategy. The firm assembles funds from institutional and wealthy investors and profits from management...

» Read more about Hoover's Fact Sheet on KKR at Hoover's

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