TPG Will Operate DirecTV Business in Deal with AT&T
AT&T Inc. agreed to sell a 30% stake in its DirecTV service and other pay-television operations to private equity firm TPG in a deal that the company said values the business at $16.25 billion.TPG will operate the business and AT&T will get $7.6 billion in cash from the transaction, with the new DirecTV taking on […]
LVMH-Backed L Catterton Nears Deal to Acquire Birkenstock
L Catterton, the private equity firm backed by luxury French fashion house LVMH, is nearing an agreement to acquire iconic German sandal maker Birkenstock, people with knowledge of the matter said. The investment firm and the family behind Birkenstock could announce a deal in the next week, the people said, asking not to be identified […]
CVC Weighs Bid for $3 Billion Chemical Maker Synthomer
CVC Capital Partners has been exploring a bid for U.K. chemical producer Synthomer Plc, people with knowledge of the matter said. The private equity firm made an initial approach to London-listed Synthomer to gauge its interest in a deal, according to the people, who asked not to be identified because the information is private. The […]
Wells Fargo sells asset management arm to private equity firms for $2.1 billion
Wells Fargo & Co said on Tuesday it had agreed to sell its asset management business, which manages more than $603 billion on behalf of customers, to private equity firms GTCR LLC and Reverence Capital Partners for $2.1 billion. The sale represents the biggest shake-up at the U.S. bank since former Bank of New York […]
Lloyds Pharmacy owner McKesson mulls £400m sell-off
The owner of Lloyds Pharmacy is exploring a £400 million sale of the business as the chemist chain struggles with rising costs and government funding cuts. The New York-listed McKesson, which bought Lloyds in a $8.3 billion takeover of its German parent Celesio in 2014, has hired bankers at Barclays to contact prospective buyers. McKesson […]
CoStar Boosts Its Offer to Acquire CoreLogic to $6.9 Billion
CoStar Group Inc. boosted its offer to acquire CoreLogic Inc. to $95.76 a share, topping a bid the property-data company accepted earlier this month. CoreLogic’s recent agreement with funds managed by Stone Point Capital and Insight Partners “was materially less than our last all-stock offer,” CoStar Chief Executive Officer Andrew Florance said in a letter […]
Private equity firm Foresight sells online gardening business Hedges Direct Group to former AO World CEO
A Lancashire online gardening and landscaping business has been sold by private equity firm Foresight Group to a former chief executive of listed white goods and technology retailer AO World. Steve Caunce first joined Hedges Direct Group, which is based in Euxton, in 2019 and has now acquired the business after a competitive sales process. […]
Healthcare group Sanofi launches buyout offer for rival Kiadis
French healthcare group Sanofi has launched a takeover offer for smaller peer Kiadis, the companies said on Friday, in a deal that would value Kiadis’ at around 220 million euros ($265 million). Sanofi’s takeover offer is priced at 5.45 euros, a premium of around 1.9% to Kiadis’ closing price of 5.35 euros on Feb. 11. […]
Bicycle maker Dorel ends take-private deal with Cerberus Capital
Canadian bicycle maker Dorel Industries Inc has terminated its take-private deal with Cerberus Capital Management, weeks after the private equity firm sweetened its bid for the company. Dorel said the termination followed discussions with many of its shareholders and review of proxy votes. “Independent shareholders have clearly expressed their confidence in Dorel’s future and the […]
Battle for UK’s G4S heading for $5-billion-plus auction
The $5 billion-plus bid battle for British security firm G4S will be settled by a rare head-to-head auction later this month if one of its two North American suitors hasn’t prevailed by then, Britain’s takeover regulator said on Friday. The Takeover Panel’s decision comes after Canada’s GardaWorld and U.S.-based Allied Universal both extended deadlines for […]
