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Mar 30, 2015

First-quarter global M&A up 21 percent on bigger deals

NEW YORK/LONDON (Reuters) – Mergers and acquisitions (M&A) this year reached their highest first-quarter level since 2007, as companies defied headwinds such as currency and oil price volatility and sought growth-boosting deals amid favorable financing conditions.

Companies around the world announced deals worth a total of $811.8 billion in the first quarter, up 21 percent year-on-year, on the back of slightly fewer but bigger deals, according to preliminary Thomson Reuters data.

Mar 30, 2015

Exclusive: Warburg Pincus seeks $12 billion private equity fund

NEW YORK (Reuters) – Private equity firm Warburg Pincus LLC has told investors it will seek to raise a new $12 billion global fund, just two years after amassing a $11.2 billion fund, according to people familiar with the matter.

The fundraising comes as other private equity firms such as Blackstone Group LP and Silver Lake Partners LP take between four to six years on average to spend their investors’ money in global funds of similar size.

Mar 30, 2015

Warburg Pincus seeks $12 billion private equity fund

NEW YORK, March 30 (Reuters) – Private equity firm Warburg
Pincus LLC has told investors it will seek to raise a new $12
billion global fund, just two years after amassing a $11.2
billion fund, according to people familiar with the matter.

The fundraising comes as other private equity firms such as
Blackstone Group LP and Silver Lake Partners LP take
between four to six years on average to spend their investors’
money in global funds of similar size.

Mar 29, 2015

Yoox could unveil deal to buy Net-a-Porter this week: sources

PARIS/NEW YORK (Reuters) – Italian online fashion retailer Yoox could unveil a deal to buy Richemont’s Net-a-Porter as early as this week, sources close to the matter told Reuters at the weekend.

Cartier owner Richemont is keen to retain a stake in the combined entity and preserve exposure to the booming online fashion market, the sources said on condition of anonymity.

Mar 27, 2015

Exclusive: Builders FirstSource in talks to acquire ProBuild – sources

By Greg Roumeliotis

(Reuters) – Builders FirstSource Inc (BLDR.O: Quote, Profile, Research, Stock Buzz), a U.S. supplier of residential building products, is in discussions to acquire peer ProBuild Holdings Inc for approximately $1.5 billion, including debt, three people familiar with the matter said on Thursday.

A deal would underscore the U.S. homebuilding sector’s consolidation, as companies that are gradually recovering from the impact of the 2008 financial crisis on the property market seek synergies to boost profits.

Mar 27, 2015

Builders FirstSource in talks to acquire ProBuild -sources

March 26 (Reuters) – Builders FirstSource Inc, a
U.S. supplier of residential building products, is in
discussions to acquire peer ProBuild Holdings Inc for
approximately $1.5 billion, including debt, three people
familiar with the matter said on Thursday.

A deal would underscore the U.S. homebuilding sector’s
consolidation, as companies that are gradually recovering from
the impact of the 2008 financial crisis on the property market
seek synergies to boost profits.

Mar 26, 2015

Platinum Equity nears deal for Itochu’s PrimeSource: sources

By Greg Roumeliotis

(Reuters) – Private equity firm Platinum Equity LLC is in advanced talks to buy PrimeSource Building Products Inc, the largest distributor of screws and nails in the United States, from Itochu Corp (8001.T: Quote, Profile, Research, Stock Buzz), according to people familiar with the matter.

A deal will likely value PrimeSource at between $800 million and $900 million, the people said on Thursday. An agreement may be reached as early as next week, though it is still possible that the negotiations will fall apart, the people added.

Mar 26, 2015

Surgery Partners, preparing for summer IPO, hires banks: sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Surgery Partners LLC is preparing for an initial public offering (IPO) in the summer that could value the private equity-owned surgical center manager at about $2 billion, including debt, according to people familiar with the matter.

Surgery Partners, owned by H.I.G Capital LLC, is working with investment banks including Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz), Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) and Jefferies LLC on the potential IPO, the people said this week.

Mar 20, 2015

Exclusive: Private equity firms prepare bids for Informatica: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Several private equity firms are preparing to make offers to acquire enterprise software maker Informatica Corp, in what could be this year’s largest leveraged buyout, according to people familiar with the matter.

Silver Lake Partners LP has teamed up with Hellman & Friedman LLC ahead of a deadline for final bids for Informatica that is set for early April, the people said on Friday.

Mar 18, 2015

Many Blackstone M&A bankers expected to depart ahead of spin off to Taubman

NEW YORK, March 18 (Reuters) – More than half of the 17
senior managing directors working in Blackstone Group LP’s
mergers and acquisitions advisory arm may leave as the
business is combined with the advisory firm headed by star Wall
Street investment banker Paul Taubman, according to people
familiar with the matter.

Some of the bankers have decided to move elsewhere or
retire, while others have lost out to people doing similar jobs
at Taubman’s PJT Capital LP, the sources said.