Harrah's To Launch IPO And Change Name to Caesars Entertainment
Harrah's To Launch IPO And Change Name to Caesars Entertainment
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.
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.
CommScope (CTV), a maker of telecommunications equipment, agreed to be purchased by private equity firm The Carlyle Group for $3.9 billion. Under the terms of the deal, Carlyle will acquire all of the outstanding shares of CommScope common stock for $31.50 per share, cash, the companies said in a statement. That price represents a 36% premium versus the stock%u2019s closing price at the end of last week.
Pre-Paid Legal Services' stock surged today after it announced it was evaluating "strategic alternatives" for the company, including a possible buyout.
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.
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.
Yahoo! Inc (YHOO) has hired Goldman Sachs Group (GS) to help deal with possible takeover approaches, Bloomberg News reported. Yahoo has been working with advisers for about two weeks, but has not received any offers, Bloomberg News said.
Harbin Electric's CEO and Baring Private Equity Asia Group are proposing taking the Chinese company private with a bid of $24 per share or a total value of $752.2 million.
Children's clothing retailer Gymboree (GYMB) has agreed to be acquired by private-equity firm Bain Capital Partners for $1.8 billion in an all-cash deal, the companies said Monday.
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.
Gymboree Corp (GYMB) surged in extended-hours trading following reports that it is considering selling itself to private equity companies. The stock jumped 19.69% to $49.72 a share as of 7:59 pm ET Thursday.
Cleaning-products maker Clorox Co. (CLX) is in talks to sell its auto-care brands STP and Armor All to private equity firm Avista Capital Partners for as much as $800 million. The sale may be announced in the coming days, Bloomberg News reported without naming its sources. JPMorgan Chase (JPM) has been advising Clorox on the deal.
Burger King (BKC) will have a new CEO once it is sold to 3G Capital. 3G today announced that it plans to appoint Bernardo Hees, a partner at the investment group, as CEO of the fast-food retailer once the deal is complete.
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 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.
Blackstone Group (BX), a private equity firm, agreed to back a project to build luxury apartments in China. Blackstone entered into the agreement with Hong Kong property developer Great Eagle, The Financial Times reported without naming its sources. Great Eagle will build over 1,000 new homes in Dalian in Liaoning, a coastal city in northern China. The project will also include over 400 hotel rooms.
Campbell Soup Co. (CPB) may make a £1.5 billion ($2.3 billion) bid for the biscuit-making unit of British company United Biscuits.
Highland Hospitality could file for bankruptcy as economic woes squeeze the hotel industry, The Wall Street Journal reported. Highland Hospitality, which holds 27 hotels, could file as soon as next month, The Wall Street Journal reported without naming its sources. Still, discussions about the move are still at an early stage.
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%.
News that beauty salon operator Regis Corp has hired investment bank Peter J. Solomon to investigate possible buyout options sent Regis stock soaring Thursday.
A number of private equity groups may be interested in bookstore chain Barnes & Noble (BKS), Reuters reported. Private equity firms including Bain Capital and Apollo are interested in "taking a look" at the company, Reuters said without naming its sources.
One Big Reason Why B&N Put Itself Up For Sale: Ron Burkle
Automatic Data Processing, a large provider of HR, payroll and benefits administration services, has bought Cobalt, which offers marketing services to auto dealers. The $400 million deal helps boost ADP's own dealer-services business and combat tough times in the sector.
With its stock plunging and the trial between key shareholder Ron Burkle and top company executives about to take place in court, signs point ever more clearly to the possibility that Barnes & Noble will go private. And that just might be the best step for the company to take.
Europe's parliament on Wednesday approved world's toughest limits on bankers' bonuses, a move likely to fuel demands for similar curbs in the United States. But are these measures enough to limit excessive risk-taking at too-big-to-fail financial institutions and avert another meltdown?
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.
On Tuesday, RAM Energy Resources said it had hired financial advisors 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.
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.