Harrah Eyes $531.3 Million IPO And Plans to List Shares Under New Name
Harrah's Entertainment hopes to hit a $531.3 million jackpot when it launches its IPO, and the company is betting heavily on its new name change to Caesars Entertainment.
private equity
Hitachi Plans IPO For Struggling Hard Drive Unit
Hitachi is preparing an IPO for its Global Storage Technologies unit, looking to finally rid itself of an unprofitable hard drive business that has been an albatross around its neck for years. In its announcement Tuesday, Hitachi said it will list the shares on either the NYSE or Nasdaq.
Carlyle Group Buys Syniverse for $2.6 Billion, Second Telecom Deal in Days
Private equity giant Carlyle Group acquired mobile service provider Syniverse Technologies (SVR) in a $2.6 billion deal late Thursday, its second telecommunications buyout this week. Carlyle acquired communications infrastructure firm CommScope (CTV) for $3.9 billion on Wednesday.
Is Pre-Paid Legal Ready for a Buyout?
Pre-Paid Legal Services' stock surged today after it announced it was evaluating "strategic alternatives" for the company, including a possible buyout.
Apollo and TPG Plan an IPO for Harrah's
Private-equity firms Apollo Management and TPG, which took Harrah's Entertainment private in January 2008, are now preparing a $575 million initial public offering. An IPO may be just as bold a move as the buyout, as investors remain wary of IPOs from private-equity firms.
Goldman Sachs's Proprietary Traders Will Join KKR
About nine members of Goldman Sachs Group proprietary trading team are joining private-equity firm Kohlberg Kravis & Roberts after entertaining offers from investment firms such as Perella Weinberg and Blackrock.
China's Harbin Electric Sparks a Buyout Bid From Its CEO
Harbin Electric's CEO and Baring Private Equity Asia Group are proposing taking the Chinese electric motor maker private with a bid of $24 per share, or $752.2 million. It's a notably rare instance of a private equity-backed buyout.
Gymboree Hires Goldman Sachs to Auction Itself Off
After seeing interest from potential buyers, children's clothing retailer Gymboree has hired Goldman Sachs to auction itself off, and more private-equity firms have already stepped in to say they want to play. Gymboree executives are reportedly looking for price of $55 to $60 a share.
Burger King Agrees to Be Bought by 3G Capital for $24 a Share
3G Capital will acquire Burger King for $24 per share, or $4 billion, including the assumption of the company's outstanding debt. Burger King's board has unanimously approved the deal.
Saks Shares Soar on Takeover Rumors
Saks shares have spiked on takeover speculation. Reports say a private equity consortium with U.S. and U.K. players is interested in buying the retailer and could offer some $1.7 billion for it.
KKR Cancels Planned $500 Million Offering
The private equity giant said late Monday that it would not proceed with a proposed $500 million public offering, citing "unfavorable market conditions." The firm reported weaker second-quarter earnings, which dropped a whopping a 91%.
Is Regis Corp. Buyout Bait?
News that beauty salon operator Regis Corp has hired investment bank Peter J. Solomon to investigate possible buyout options sent Regis stock soaring Thursday.
One Big Reason Why B&N Is For Sale: Ron Burkle
Apart from the many strategic issues that have weighed down Barnes & Noble's stock price, there's another good reason for the company to put itself up for sale: An effort to liberate itself from the manipulations of investor Ron Burkle.
ADP Revs Its Car Business With Cobalt Buy
Automatic Data Processing, a large provider of HR, payroll and benefits administration services, has bought Cobalt, which offers Web marketing services to auto dealers. The $400 million deal helps boost ADP's own dealer-services business and combat tough times in the sector.
Why Going Private Could Be Barnes & Noble's Best Bet
With the stock plunging and a trial between key shareholder Ron Burkle and top company execs heading to court, signs point ever more clearly to the possibility that Barnes & Noble will go private. And that just might be the right move.
Will EU Limits on Banker Bonuses Reduce Risk?
The tough new restrictions will likely fuel demands for similar curbs in the U.S. But not everyone is convinced that the new rules will have the intended effect of changing bankers' riskiest practices.
Hasbro Denies Being in Talks to Go Private
Toymaker Hasbro has been in buyout talks with fellow Rhode Island-based Providence Equity Partners, according to the Wall Street Journal. However, the discussions may have cooled lately given the uncertainty in the markets.
Oil and Gas Firm RAM Energy Hunts for a Buyer
On Tuesday, RAM Energy Resources said it had hired financial advisers Jefferies & Company to assist in a "strategic review process." In other words, the independent oil and natural gas company is considering a sale, refinancing or recapitalization. Shares of RAM jumped 34% on the news.
KKR Invests in Texas Shale Assets
Private equity powerhouse Kohlberg Kravis Roberts & Co announced it will invest up to $400 million in a joint venture with Houston-based Hilcorp Energy to develop the Eagle Ford Share in South Texas.