Greg's Feed
Aug 19, 2014

Apax seeks $3 billion sale of healthcare IT firm TriZetto : sources

NEW YORK (Reuters) – Private equity firm Apax Partners LLP is exploring a sale of U.S. healthcare information technology company TriZetto Corp, hoping to fetch as much as $3 billion including debt, according to people familiar with the matter.

London-based Apax has hired investment bank JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) to run an auction for TriZetto, a software vendor to the U.S. health insurance industry, the people said this week.

Aug 19, 2014

Apax seeks $3 bln sale of healthcare IT firm TriZetto -sources

NEW YORK, Aug 19 (Reuters) – Private equity firm Apax
Partners LLP is exploring a sale of U.S. healthcare information
technology company TriZetto Corp, hoping to fetch as much as $3
billion including debt, according to people familiar with the
matter.

London-based Apax has hired investment bank JPMorgan Chase &
Co to run an auction for TriZetto, a software vendor to
the U.S. health insurance industry, the people said this week.

Aug 15, 2014

Linn Energy taps banks for $2 billion oil asset sale: sources

By Greg Roumeliotis and Mike Stone

(Reuters) – Linn Energy LLC (LINE.O: Quote, Profile, Research, Stock Buzz) has hired banks to sell its oil production assets in the Texas Panhandle and western Oklahoma in an auction that could raise as much as $2 billion, according to people familiar with the matter.

The Houston-based oil and gas company said in June it would sell the assets, referred to collectively as Granite Wash, to pay back debt it took on to finance its $2.3 billion acquisition of oil and gas assets from Devon Energy Corp (DVN.N: Quote, Profile, Research, Stock Buzz).

Aug 15, 2014

Exclusive: Shake Shack fast-food chain preparing for an IPO – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Shake Shack, the fast-food restaurant chain famous for its hamburgers and milkshakes, is preparing to go public, seeking to tap stock market demand for popular casual dining companies, according to people familiar with the matter.

Shake Shack’s majority owner, Union Square Hospitality Group LLC, has interviewed investment banks in recent weeks to appoint underwriters for an initial public offering, the people said on Friday.

Aug 15, 2014

Shake Shack fast-food chain preparing for an IPO -sources

Aug 15 (Reuters) – Shake Shack, the fast-food restaurant
chain famous for its hamburgers and milkshakes, is preparing to
go public, seeking to tap stock market demand for popular casual
dining companies, according to people familiar with the matter.

Shake Shack’s majority owner, Union Square Hospitality Group
LLC, has interviewed investment banks in recent weeks to appoint
underwriters for an initial public offering, the people said on
Friday.

Aug 13, 2014

HelpSystems up for sale for more than $700 million : sources

By Greg Roumeliotis

(Reuters) – HelpSystems LLC is exploring a sale that could value the information technology management software company at more than $700 million, including debt, just two years after it changed private equity ownership, according to people familiar with the matter.

Private equity firm Summit Partners, which bought HelpSystems in 2012 from another buyout firm, Audax Group Inc, has hired boutique investment bank Harris Williams & Co to run a sale process, the people said this week.

Aug 13, 2014

Emerson taps Goldman for $1 billion-plus power unit sale: sources

NEW YORK (Reuters) – Emerson Electric Co has tapped Goldman Sachs Group Inc to sell its power transmission solutions business in a deal that could be worth more than $1 billion, people familiar with the matter said.

The industrial conglomerate is preparing for an auction in the fall and is in the early stages of contacting potential buyers, including other industrial companies and buyout firms, the people said on Wednesday.

Aug 11, 2014

Exclusive: Private equity seeks assurances from U.S. regulators over loans

By Greg Roumeliotis

(Reuters) – The private equity industry’s lobbying group met officials from the Office of the Comptroller of the Currency and the Federal Reserve last week to address concerns over a crackdown on junk-rated loans, people familiar with the matter said on Monday.

The private meeting – the first between the Private Equity Growth Capital Council (PEGCC) and the U.S. regulators over the issue – underscores many buyout firms’ reliance on leveraged loans for outsized returns in their debt-fueled acquisitions of companies.

Aug 11, 2014

Cutrale and Safra make offer for Chiquita Brands

Aug 11 (Reuters) – Juice maker Cutrale and investment firm
Safra Group said on Monday they offered to acquire Chiquita
Brands International Inc in a $610.5 million cash deal
that rivaled an all-stock agreement with Irish tropical fruit
company Fyffes Plc.

The offer comes as Charlotte, North Carolina-based Chiquita
is attempting to close a merger with Dublin, Ireland-based
Fyffes, which the two companies announced in March. The combined
market value of Chiquita and Fyffes is currently close to $1
billion.

Aug 7, 2014

Carlyle to break up PQ to revive $3 billion auction: sources

NEW YORK (Reuters) – Buyout firm Carlyle Group LP (CG.O: Quote, Profile, Research, Stock Buzz) is preparing to break up specialty chemical company PQ Corp, after efforts to sell the company in its entirety for as much as $3 billion were not successful, according to people familiar with the matter.

The new strategy suggests Carlyle prefers to fully divest the company through an outright sale, rather than an initial public offering. PQ has already registered with the U.S. Securities and Exchange Commission in February for a proposed public offering.