Jeffrey's Feed
Nov 4, 2015
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Rainbow-chasing unicorns get Groupon reality check

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Groupon was a unicorn before such creatures started running wild in Silicon Valley. The daily-deals website in 2010 became one of the fastest to reach the $1 billion valuation required to earn the mythical sobriquet, whose coinage only first appeared in late 2013. With its latest round of bad news, the company has now given a reality check to these one-horned rainbow-chasers.

Nov 4, 2015
via Breakingviews

Rainbow-chasing unicorns get Groupon reality check

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Groupon was a unicorn before such creatures started running wild in Silicon Valley. The daily-deals website in 2010 became one of the fastest to reach the $1 billion valuation required to earn the mythical sobriquet, whose coinage only first appeared in late 2013. With its latest round of bad news, the company has now given a reality check to these one-horned rainbow-chasers.

Nov 2, 2015
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Merger Monday has a scary Halloween afterglow

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The latest Merger Monday has a scary Halloween afterglow. No fewer than six companies unmasked acquisitions of $1 billion or more on the first business day after All Hallows’ Eve, sustaining M&A’s freakish pace this year. Some of the transactions are tricky while others treat the sellers to rich prices. The zombie-like deal march is causing more investors to take fright.

Nov 2, 2015
via Breakingviews

Merger Monday has a scary Halloween afterglow

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The latest Merger Monday has a scary Halloween afterglow. No fewer than six companies unmasked acquisitions of $1 billion or more on the first business day after All Hallows’ Eve, sustaining M&A’s freakish pace this year. Some of the transactions are tricky while others treat the sellers to rich prices. The zombie-like deal march is causing more investors to take fright.

Oct 29, 2015
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TPG reaches for some vintage Goldman fairy dust

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

TPG is trying to sprinkle a little vintage Goldman Sachs fairy dust around the place. The buyout shop with $74 billion under management hired the bank’s former president, Jon Winkelried, to be co-chief executive alongside co-founder Jim Coulter. The decision suggests that no one internally was better suited for the job than a man who rode off mid-financial crisis for a cowboy’s life.

Oct 29, 2015
via Breakingviews

TPG reaches for some vintage Goldman fairy dust

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

TPG is trying to sprinkle a little vintage Goldman Sachs fairy dust around the place. The buyout shop with $74 billion under management hired the bank’s former president, Jon Winkelried, to be co-chief executive alongside co-founder Jim Coulter. The decision suggests that no one internally was better suited for the job than a man who rode off mid-financial crisis for a cowboy’s life.

Oct 28, 2015
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Follow KKR’s new buyback plan to its logical end

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

KKR’s business model is predicated on finding assets it considers undervalued and snapping them up. The private equity firm led by Henry Kravis is applying the same rationale to its own publicly traded securities. It took the unusual step among its peers of authorizing a share-repurchase scheme and simultaneously paying a fixed quarterly dividend. If it can’t alter perceptions about the value of its business however, there’s a logical end to this philosophy.

Oct 28, 2015
via Breakingviews

Follow KKR’s new buyback plan to its logical end

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

KKR’s business model is predicated on finding assets it considers undervalued and snapping them up. The private equity firm led by Henry Kravis is applying the same rationale to its own publicly traded securities. It took the unusual step among its peers of authorizing a share-repurchase scheme and simultaneously paying a fixed quarterly dividend. If it can’t alter perceptions about the value of its business however, there’s a logical end to this philosophy.

Oct 27, 2015
via Breakingviews

Collapsed Ares deal leaves friends with benefits

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Two investing friends are parting ways with benefits. Ares Management, the private equity shop run by Drexel Burnham Lambert alum Tony Ressler, on Tuesday called off a $2.6 billion plan to merge with Kayne Anderson. The two couldn’t agree on how to tackle the energy sector, but nevertheless came up with a cozy solution that contrasts starkly with how some crisis-era leveraged buyouts collapsed.

Oct 27, 2015
via Breakingviews

Collapsed Ares deal leaves friends with benefits

Photo

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Two investing friends are parting ways with benefits. Ares Management, the private equity shop run by Drexel Burnham Lambert alum Tony Ressler, on Tuesday called off a $2.6 billion plan to merge with Kayne Anderson. The two couldn’t agree on how to tackle the energy sector, but nevertheless came up with a cozy solution that contrasts starkly with how some crisis-era leveraged buyouts collapsed.