Greg's Feed
Jul 29, 2015

Petco in talks with banks for IPO-source

July 29 (Reuters) – Pet supplies retailer Petco Animal
Supplies Inc has been in talks with investment banks in recent
weeks for an initial public offering, a person familiar with the
matter said on Wednesday.

Petco, which started out in 1965 as a mail-order company,
was taken private in a $1.8 billion leveraged buyout by TPG
Capital and Leonard Green & Partners in 2006.

Jul 29, 2015

Apollo’s earnings drop as asset sales slow

By Greg Roumeliotis

(Reuters) – Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) said on Wednesday its second-quarter earnings dropped 25 percent, less than most analysts expected, as it generated less cash from selling assets and its funds appreciated at a slower pace.

While Apollo sold companies such as Great Wolf Resorts Inc and Brit Insurance in the quarter, the overall pace of asset sales slowed down. Its private equity funds appreciated 2.7 percent, versus a 5 percent appreciation a year earlier.

Jul 29, 2015

Carlyle’s second-quarter earnings drop as energy funds suffer

By Greg Roumeliotis

(Reuters) – Private equity firm Carlyle Group LP (CG.O: Quote, Profile, Research, Stock Buzz) said on Wednesday its second-quarter earnings dropped 38 percent year-on-year as the value of its energy and hedge funds decreased, even as it generated more cash by cashing out on several of its assets.

Carlyle’s private equity portfolio appreciated 5 percent in the second quarter, roughly in line with last year. But its energy funds depreciated amid lower commodity prices, and its hedge fund unit Claren Road Asset Management also saw losses.

Jul 28, 2015

Exclusive: TreeHouse, Post join ConAgra’s private label auction – sources

By Lauren Hirsch and Greg Roumeliotis

(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research, Stock Buzz) has started talks with TreeHouse Foods Inc (THS.N: Quote, Profile, Research, Stock Buzz) and Post Holdings Inc (POST.N: Quote, Profile, Research, Stock Buzz) regarding the sale of its private label unit Ralcorp, which could be valued at around $3.5 billion, according to people familiar with the matter.

TreeHouse, Post, and private equity firms that include Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) and Cerberus Capital Management LP have joined the auction for Ralcorp, which is still at its early stages, the people said this week.

Jul 28, 2015

TreeHouse, Post join ConAgra’s private label auction – sources

By Lauren Hirsch and Greg Roumeliotis

(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research) has started talks with TreeHouse Foods Inc (THS.N: Quote, Profile, Research) and Post Holdings Inc (POST.N: Quote, Profile, Research) regarding the sale of its private label unit Ralcorp, which could be valued at around $3.5 billion, according to people familiar with the matter.

TreeHouse, Post, and private equity firms that include Apollo Global Management LLC (APO.N: Quote, Profile, Research) and Cerberus Capital Management LP have joined the auction for Ralcorp, which is still at its early stages, the people said this week.

Jul 26, 2015

Teva nears deal for Allergan’s generic drugs unit: source

By Greg Roumeliotis

(Reuters) – Teva Pharmaceutical Industries Ltd (TEVA.TA: Quote, Profile, Research, Stock Buzz) is in advanced talks to buy Allergan Plc’s (AGN.N: Quote, Profile, Research, Stock Buzz) generic drug business following a thus far unsuccessful effort to acquire peer Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz), according to a person familiar with the matter.

Jerusalem-based Teva, which has offered to buy Mylan for $40 billion, is now close to an agreement to acquire Dublin-based Allergan’s generic drugs unit for between $40 billion and $45 billion, the person said on Saturday.

Jul 25, 2015

Allergan said to be exploring split into two businesses -source

July 24 (Reuters) – Allergan Plc is considering a
breakup of the company into two businesses, a person familiar
with the matter told Reuters on Friday, potentially adding the
botox-maker to a list of large drugmakers realigning themselves
to focus on specific areas of their businesses.

Allergan is considering keeping its branded drugs business
but spinning off or selling parts or all of its generics
business, according to the person who asked not to be identified
because the deliberations are confidential.

Jul 23, 2015

Private equity firm KKR second-quarter earnings hit record

July 23 (Reuters) – KKR & Co LP said on Thursday
that its second-quarter earnings rose 67 percent year-on-year,
reaching a quarterly record that far exceeded most analysts’
expectations, as its private equity funds appreciated far more
than the wider market.

KKR’s strong performance is due to the rise in value of a
few large portfolio companies, such as payment processor First
Data Corp, which this week filed for an initial public offering,
and hospital operator HCA Holdings Inc.

Jul 22, 2015

Anthem set to announce deal for Cigna this week: source

By Greg Roumeliotis

(Reuters) – Health insurer Anthem Inc is close to finalizing negotiations to acquire peer Cigna Inc and could announce a roughly $48 billion deal as early as this week, according to a person familiar with the matter.

Most issues that were preventing a deal, such as price and the role of Cigna Chief Executive David Cordani, have been resolved, the person said, without offering details. Anthem has slightly improved on its previous cash and stock offer of $184 per share, the person added.

Jul 21, 2015

Exclusive: Bonduelle prepares bid for Green Giant

By Lauren Hirsch and Greg Roumeliotis

(Reuters) – French food group Bonduelle SCA (BOND.PA: Quote, Profile, Research, Stock Buzz) is in discussions to team up with Centerview Partners in a bid to acquire General Mills Inc’s (GIS.N: Quote, Profile, Research, Stock Buzz) Green Giant frozen and canned vegetable business, according to people familiar with the matter.

Bonduelle shares rose 3 percent in Paris on Tuesday, as analysts said a deal, if it went through, would reinforce the French group’s footprint in North America, a region where it generates 23 percent of its 1.9 billion euros in annual sales.