Blackstone-Owned SeaWorld Readies IPO
The theme park operator is going public, probably launching its IPO this month. SeaWorld will offer 20 million shares, expecting to price them between $24-27 apiece.
private equity
Founders Taking Their Firms Private: A New Wall Street Trend?
Barnes & Noble's Leonard Riggio, Dell's Michael Dell and Best Buy's Richard Schulze each want to save the troubled companies they founded from the pains of publicly traded life. But are their plans powered by sound thinking, or wishful thinking?
Microsoft in Talks to Invest Up to $3 Billion in Dell: CNBC
Microsoft is in discussions to invest between $1 billion and $3 billion of mezzanine financing in a buyout of Dell, CNBC cited unidentified sources as saying on Tuesday. Private equity outfit Silver Lake Partners is trying to finalize a bidding group to take the world's No. 3 PC maker private.
What Private-Equity Firms and Vampires Have In Common
The answer: dividend recaps. You see, you may think that when private-equity firms buy troubled companies, their plan is to fix them up and resell them. But often, the real plan is to load the companies up with debt, suck huge sums out of them, and stick the next set of investors with the bill.
This May Be Best Buy's Last Hope
Best Buy founder Richard Schulze apparently isn't giving up on his dream of taking back his company. Reuters reports that Schulze and a consortium of at least four private equity firms are studying the struggling consumer electronics retailer's books to explore what sources say may be an $11 billion buyout.
Best Buy Buyout Is No Sure Thing
Shares of Best Buy soared Monday after founder Richard Schulze said he wanted to buy the company. In private hands, Best Buy would be able to attempt a turnaround outside of the public limelight, but it won't be easy to get to the fairy tale ending.
Best Buy Buyout? Why Founder's Bid May Be Retailer's Best Bet
Sources say Best Buy founder Richard Schulze -- who stepped down as chairman this month -- intends to attempt to take the company private. It's not exactly a layup -- but he may be the only one ready and able to turn the struggling consumer electronics giant around.
Best Buy Founder Mulling Bid to Take Electronics Retailer Private
Best Buy stock pushed higher on word that founder Richard Schulze may be considering a bid to take the electronics retailer private, according to The Wall Street Journal. But Schulze, who owns 20% of the company, may yet decide to sell his stake instead.
Mitt's Profit from Bain's Buyouts: Up to $20,000 Per Laid-off Worker
GOP presidential candidate Mitt Romney spends a lot of time touting his record on job creation. But when he ran Bain Capital, he also made jaw-dropping profits in leveraged buyouts of companies that later went bust, costing more than 11,000 Americans their jobs.
Private Equity Can Do Good, Says Clinton on Romney's Bain Career
President Obama has made assailing Bain Capital a centerpiece of his campaign against Mitt Romney, the private equity firm's former CEO. But former President Clinton isn't on board with that line of attack.
P.F. Chang's to Go Private: Buyout Bid Adds a 30% Tip to Stock
Shares of P.F. Chang's soared nearly 30% Tuesday after the restaurant chain agreed to be acquired by private equity firm Centerbridge Partners in a $1.1 billion deal. Here's what it all means for the rest of the dynamic casual dining industry.
The Buffett Rule: Tax Reform Plan Is a Perfect Fit for Obama 2012
President Obama is making the Buffett Rule -- a minimum tax on millionaires who get off easy under the current tax code -- one of the centerpiece of his re-election campaign. Here's what adoption of the tax might mean for all of us.
How the JOBS Act Turns Ordinary Joes Into Venture Capitalists
On Thursday afternoon, President Obama signed the JOBS Act, and among the changes it will bring to the world of business startups is one that makes use of a rising trend: The power of crowdsourcing.
Liquid Assets: Apollo Buys Indoor Waterpark Leader
Apollo Global Management is shelling out $703 million for Great Wolf Resorts, the leading operator of indoor water park resorts. The $5-a-share offer is better than the stock has seen since 2008, but people who bought it around its 2004 IPO will end up taking a real bath.
Leveraged Buyout Trailblazer Ted Forstmann Dead at 71
Theodore J. "Ted" Forstmann died on Sunday from complications related to brain cancer. The private equity pioneer's firm, Forstmann Little & Co., was one of the first to engage in leveraged buyouts -- using borrowed money to buy companies.
Spring Is in the Air for Retail M&A
Retailers are getting back to business after the recession and showing stronger earnings, making them attractive targets for private equity investors -- and each other.
M&A Mania: Early 2011 Deals Already Hit a 10-Year High
Companies such as Duke Energy and DuPont are off and running with megamergers early this year. Even Playboy is among the dealers. And market pros say the trend is far from over. Why are so many U.S. companies tying the knot? Fast growth is hard to come by in any other strategy.
Jo-Ann Stores to Be Purchased for $1.6 Billion
News that Jo-Ann Stores has agreed to be acquired by an affiliate of private-equity firm Leonard Green & Partners for about $1.6 billion has sent shares of the craft retailer soaring 33% in premarket trading.
Google Said to Bid $6 Billion for Groupon
The search giant is poised to make its largest deal ever -- the $6 billion acquisition of online coupon site Groupon, according to several sources.
Could J. Crew Have Gotten a Sweeter Deal in Buyout Offer?
Shares of J. Crew jumped 16% on Tuesday after the specialty retailer confirmed it was considering a $2.8 billion buyout offer. But some question whether J. Crew's $2.8 billion buyout was the best possible deal for investors.
Holiday Shopping Turns to M&A, J. Crew Near Buyout Deal
Private equity firms are likely to buy retailer J. Crew Group for $43.50 a share or about $2.8 billion, though investors might balk at such a modest premium.
For Nokia Siemens Joint Venture, an IPO Down the Line?
Nokia Siemens Networks' chief financial officer says the telecom equipment maker may launch an IPO in its distant future, a move that could help its current efforts to sell a chunk of its stock to private equity buyers.
AstraZeneca Looking to Sell Unit for $2 Billion
As the Anglo-Swedish drugmaker looks to divest assets, it seeks a buyer for its dental implants and medical devices unit Astra Tech.
BJ's Wholesale Seeks Advisers for Possible Private-Equity Sale
Warehouse retailer BJ's Wholesale Club is in the process of hiring an advisor to explore a possible sale of the company to a private equity firm.
Private-Equity Firms Ask Alibaba to Join Yahoo Bid
A group of private-equity investors is calling on the CEO of Chinese Internet giant Alibaba Group to throw his support behind a buyout offer for Yahoo, Reuters reports. Alibaba founder Jack Ma is reportedly considering his options regarding the U.S. firm that holds a 40% stake in his company.
Asia Leads the IPO Race as U.S. Drops Further Back
Over the last 11 years, Asia's IPO market has ascended while the U.S. market has imploded. Led by China, which has raised $76 billion through IPOs in 2010, Asia's share of global IPOs has increased from 12% in 1999 to 66%. Meanwhile, U.S. IPOs have declined from around 44% to 11% during the same time period, according to Bloomberg.