Greg's Feed
May 26, 2015

Charter Communications nears $55 billion deal for Time Warner Cable

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday.

A deal would create a major rival to Comcast Corp, the biggest operator in the U.S. cable and broadband market, and marks a triumph for Charter, which was rejected by Time Warner Cable just last year.

May 25, 2015

Charter nears $55 billion deal for Time Warner Cable: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Time Warner Cable Inc (TWC.N: Quote, Profile, Research, Stock Buzz) is nearing an agreement to be acquired by smaller peer Charter Communications Inc (CHTR.O: Quote, Profile, Research, Stock Buzz) for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday.

The cash and stock deal values Time Warner Cable at $195 per share, according to the sources, and comes just one month after Comcast Corp (CMCSA.O: Quote, Profile, Research, Stock Buzz) dropped its $45.2 billion merger agreement with Time Warner Cable, clinched in February 2014, over antitrust concerns.

May 21, 2015

Exclusive: KKR Asia business architect Bae to return to U.S.

By Greg Roumeliotis

(Reuters) – Joseph Bae, the Korean-American dealmaker that KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) sent to Hong Kong ten years ago to set up its Asian operations from scratch, will move back to the United States, the private equity firm has told its fund investors.

The 43-year old executive, whom KKR insiders consider a possible successor to the firm’s founders and co-chief executives Henry Kravis and George Roberts, will relocate his family to New York this summer, KKR said earlier this month in a memo to investors that was seen by Reuters.

May 20, 2015

Genealogy website Ancestry.com explores sale -sources

May 20 (Reuters) – Ancestry.com LLC, the world’s largest
family history website helping users trace their heritage, is
exploring a sale that could value it at between $2.5 billion and
$3 billion, including debt, according to people familiar with
the matter.

Permira Advisers LLC, the buyout firm that owns most of
privately held Ancestry, has hired investment banks to run an
auction for the company, the people said this week.

May 20, 2015

Exclusive: Genealogy website Ancestry.com explores sale – sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Ancestry.com LLC, the world’s largest family history website helping users trace their heritage is exploring a sale that could value it at between $2.5 billion and $3 billion, including debt, according to people familiar with the matter.

Permira Advisers LLC, the buyout firm that owns most of privately held Ancestry, has hired investment banks to run an auction for the company, the people said this week.

May 20, 2015

Exclusive: Alleghany mulls sale of TransRe – sources

By Mike Stone and Greg Roumeliotis

(Reuters) – U.S. property and casualty insurer Alleghany Corp (Y.N: Quote, Profile, Research, Stock Buzz) is considering a sale of Transatlantic Holdings Inc, also known as TransRe, in a deal that could value the reinsurance unit at around $6.5 billion, people familiar with the matter said.

Alleghany is working with investment bankers to respond to takeover interest in TransRe from at least one other company, the people said this week. Alleghany has not decided whether to sell TransRe and no deal is imminent, the people added.

May 19, 2015

France’s Altice in talks to buy Suddenlink Communications -sources

May 19 (Reuters) – French telecommunications group Altice SA
is in advanced talks to buy U.S.-based Suddenlink
Communications in a deal that could value the cable operator at
up to $10 billion, including debt, according to two sources
familiar with the matter.

The deal, which could be announced in the coming days, has
not yet been finalised and could still fall apart.

May 18, 2015

Abandoning Par IPO for $8 billion sale could help TPG with its own

By Greg Roumeliotis and Olivia Oran

(Reuters) – TPG Capital LP may have helped its own campaign to go public after pulling Par Pharmaceutical Holdings Inc’s IPO.

TPG was preparing to begin an IPO investor roadshow for Par Pharmaceutical Holdings before it agreed to sell the generics drugmaker to Endo International Plc (ENDP.O: Quote, Profile, Research, Stock Buzz) for around $8 billion. TPG bought Par for $1.9 billion in 2012.

May 15, 2015

Penske seeks $1 billion sale of Truck-Lite: sources

By Greg Roumeliotis

(Reuters) – Transportation services company Penske Corp is exploring a sale of Truck-Lite Co LLC, in a deal that could value the maker of lighting, wiring harnesses and mirrors for trucks at close to $1 billion, according to people familiar with the matter.

Penske, a company controlled by billionaire former race car driver Roger Penske, owner of the eponymous racing team, has hired investment bank Robert W. Baird & Co to run an auction for Truck-Lite, the people said this week.

May 15, 2015

Sysco may face about $1 billion in costs if US Foods merger dies

WASHINGTON/NEW YORK (Reuters) – Sysco Corp (SYY.N: Quote, Profile, Research, Stock Buzz) will be left with a bill of around $1 billion if the U.S. government kills its $3.5 billion merger with US Foods, regulatory filings show, underscoring the perils of doing deals that have a good chance of being blocked by antitrust regulators.

    Sysco, the biggest U.S. food distributor, has spent more than $400 million so far on a combination of integration planning, financing charges and on defending the transaction in court, based on a Reuters analysis of its filings. To put that into context, Sysco’s net profit for its fiscal year ended June 28, 2014 was $932 million.