Bain Capital

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Celtics Win Ripples Across Globe

Boston's championship watched from London to Shanghai

(Newser) - As the buzzer sounded last night, giving the Boston Celtics the NBA Championship over the Los Angeles Lakers, it wasn't heard only in Beantown. All over the world, from London to Shanghai, basketball fans watched the Celtics take home their 17th Larry O’Brien Trophy. "It’s a global...

Clear Channel, Buyers Sue Banks Over Soured Deal

Equity firms claim lenders backtracked on financing takeover of broadcast giant

(Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by...

$19B Buyout of Clear Channel Nearly Dead

Credit woes have sale of radio giant to private firms crumbling

(Newser) - A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one...

3Com Sale Collapses on Security Concerns

Panel objects to Chinese tech company's role in deal

(Newser) - National security concerns have blocked the $2.2 billion sale of network-equipment maker 3Com Corp to US private equity firm Bain Capital Partners and a Chinese technology company, Reuters reports. Lawmakers had opposed the deal because Huawei, China's biggest network equipment maker, is purported to have ties to China’s...

3Com Buyout Doesn't Pass Security Review

US leery of giving Chinese telecom access to networks

(Newser) - National security concerns have scuttled the buyout deal for 3Com by private equity firm Bain Capital and a Chinese telecom, the Wall Street Journal reports. 3Com, which supplies networking services to the Defense Department, withdrew its application from the Committee on Foreign Investment in the US, having been unable to...

Investors Worry Clear Channel Sale Is Off the Air

Credit worries and a slumping stock price have Wall Street worried the deal is done

(Newser) - Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports....

Bain, Chinese Firm Buy 3Com
Bain, Chinese Firm Buy 3Com
Sep 30, 2007 5:14 PM CDT

Bain, Chinese Firm Buy 3Com

US will check telecommunication buyout for security risks

(Newser) - Chinese company Huawei Technologies Co. will help private equity firm Bain Capital buy 3Com Corp., a flailing US telecommunications company, by picking up almost 20% of the tab. Recently Chinese businesses have bought strategic stakes in US companies rather than full buyouts to skirt political scrutiny, which can lead to...

Home Depot Deal Renovated
Home Depot Deal Renovated
Aug 27, 2007 5:37 AM CDT

Home Depot Deal Renovated

Price for wholesale unit slashed

(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...

Banks Might Derail Home Depot Deal
Banks Might Derail Home Depot Deal
Aug 24, 2007 7:10 AM CDT

Banks Might Derail Home Depot Deal

Private equity threatens lawsuit as financing dries up

(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...

Bain Buys Out Guitar Center
Bain Buys Out Guitar Center
Jun 27, 2007 5:40 PM CDT

Bain Buys Out Guitar Center

Firm strums out $1.9B deal to take retailer private

(Newser) - Bain Capital sealed a deal today to buy out Guitar Center, a California-based retail chain specializing in musical instruments, for $1.9 billion. The deal was reached after a secret auction conducted by Goldman Sachs; the private equity firm has recently purchased a slew of publicly traded retailers. The final...

Business History Boosts, Bogs Down Romney

Controversial moves shadow onetime buyout specialist

(Newser) - Mitt Romney's business success gives him the resources necessary to run a presidential campaign, but his deal-making background also opens him to criticism. The success of Bain Capital helped Romney built his personal fortune, the Times report, and the fact that he wasn't afraid to cut jobs for the sake...

Clear Channel Board Takes Private Equity Bait

(Newser) - After months of stops and starts, Clear Channel's board today gave the green light to a $19.5 billion buyout offer. The communications giant bit after Thomas H. Lee Partners and Bain Capital, which have been bidding since November, gained the backing of two large shareholders. The successful offer was...

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