Jessica's Feed
Jan 24, 2011

Exclusive: Sanofi hires search firm for Genzyme board

PHILADELPHIA/PARIS (Reuters) – French drugmaker Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) has hired a search firm to look for potential candidates to nominate to Genzyme Corp’s (GENZ.O: Quote, Profile, Research, Stock Buzz) board of directors, sources familiar with the situation said on Monday.

The move comes even as Sanofi said it extended its $18.5 billion tender offer for Genzyme again and continued to hold talks for a negotiated deal. Sanofi’s $69 per share offer has been rejected by Genzyme as too low.

Jan 24, 2011

Private equity vies for Sara Lee: sources

PHILADELPHIA/NEW YORK, Jan 23 (Reuters) – Coffee and meat company Sara Lee Corp will this week weigh an offer from a group of private equity firms which values the company at up to $20 a share or nearly $13 billion, a source familiar with the situation said on Sunday.

If successful, the deal would be among the largest leveraged buyouts since the credit crisis.

Jan 23, 2011

Private equity group submits Sara Lee bid: source

PHILADELPHIA/NEW YORK (Reuters) – A private equity group led by Apollo Global Management APOLO.UL has submitted a takeover offer for Sara Lee Corp (SLE.N: Quote, Profile, Research, Stock Buzz), but an expected rival offer has not yet been made by Brazilian beef processor JBS (JBSS3.SA: Quote, Profile, Research, Stock Buzz), a source familiar with the situation said on Saturday.

Details of the bid submitted by Apollo, Bain Capital and TPG Capital TPG.UL were not immediately available. Preliminary bids, or indications of interest, had been due on Friday, sources previously told Reuters.

Jan 16, 2011

J Crew received no rival takeover bids – source

PHILADELPHIA, Jan 16 (Reuters) – J Crew Group Inc (JCG.N: Quote, Profile, Research, Stock Buzz)
received no rival takeover bids during its “go shop” period and
will remain with its original $2.86 billion buyout offer from
TPG Capital LP [TPG.UL] and Leonard Green & Partners LP, a
source familiar with the situation said on Sunday.

Sears Holdings Corp (SHLD.O: Quote, Profile, Research, Stock Buzz), Urban Outfitters Inc (URBN.O: Quote, Profile, Research, Stock Buzz)
and at least two other private equity firms had been looking at
the financial books of J Crew during the “go shop” period that
allowed J Crew to solicit other suitors, sources previously
told Reuters.

Jan 14, 2011

More breakups seen after conglomerates fall

NEW YORK/PHILADELPHIA (Reuters) – Now that iconic conglomerates like Marathon Oil, ITT and Fortune Brands have bowed to restructurings and breakups, other companies may feel pressure to separate disparate businesses.

Marathon Oil Corp (MRO.N: Quote, Profile, Research, Stock Buzz) will hive off its refinery and pipeline operations while ITT Corp (ITT.N: Quote, Profile, Research, Stock Buzz), itself the product of a three-way split in 1995, is breaking in three again. Meanwhile, companies that once prided themselves on their diversity, such as Fortune Brands Inc (FO.N: Quote, Profile, Research, Stock Buzz), Motorola and now possibly Sara Lee Corp (SLE.N: Quote, Profile, Research, Stock Buzz), have or are splitting apart.

Jan 13, 2011

KKR potentially interested in Sara Lee: sources

NEW YORK/PHILADELPHIA (Reuters) – Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz) is potentially interested in Sara Lee (SLE.N: Quote, Profile, Research, Stock Buzz) and could possibly partner with an interested party as bidders emerge for the food group, two sources familiar with the situation said on Wednesday.

Sara Lee recently has attracted interest from Brazilian meat processor JBS SA (JBSS3.SA: Quote, Profile, Research, Stock Buzz) and from a group of private equity firms including Apollo Global ManagementAPOLO.UL, sources previously told Reuters. That consortium also includes Bain Capital and TPG Capital TPG.UL, a separate source said.

Jan 11, 2011

Sara Lee whole worth more than parts

NEW YORK/PHILADELPHIA (Reuters) – Sara Lee Corp (SLE.N: Quote, Profile, Research, Stock Buzz) could fetch as much as $23 per share in an outright sale, more than if it were split up, but only if it can find a buyer that wants a collection of assets that includes lunch meat, coffee and pies and operates in countries from Brazil to the Netherlands.

Brazilian meat processor JBS SA (JBSS3.SA: Quote, Profile, Research, Stock Buzz) is now considering teaming up with a group of private equity firms to pursue a joint bid for the maker of Jimmy Dean sausages and Ball Park frankfurters, a source said on Tuesday.

Jan 5, 2011

Buyout firms circle Fortune Brands’ home unit: sources

NEW YORK/PHILADELPHIA (Reuters) – Several major private equity firms are considering buying Fortune Brands’ (FO.N: Quote, Profile, Research, Stock Buzz) home products unit after the company announced plans to spin off the $3 billion division, five people familiar with the matter said.

Some of the large buyout firms, including Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) and Bain Capital, are studying the potential of either making offers for the entire unit or acquiring a stake in the business as part of the planned spin-off, the people said.

Dec 22, 2010

Dealtalk: U.S. healthcare sector ripe for more deals in 2011

PHILADELPHIA/CHICAGO (Reuters) – The U.S. healthcare industry is poised for a robust year of dealmaking in 2011 as a wider variety of players from scientific tool makers to hospital companies looks for new growth.

A quick succession of deals in recent weeks points to the increasing appetite for acquisitions among a broad array of companies. Few expect a return to price-tags like the $67 billion Pfizer Inc paid for Wyeth or the $41 billion Merck & Co spent on Schering-Plough in 2009, but it does mean many more industry names will be targeted in 2011.

Dec 21, 2010

Healthcare sector ripe for more deals in 2011

PHILADELPHIA/CHICAGO (Reuters) – The healthcare industry is poised for a robust year of dealmaking in 2011 as a wider variety of players from scientific tool makers to hospital companies looks for new growth.

A quick succession of deals in recent weeks points to the increasing appetite for acquisitions among a broad array of companies. Few expect a return to price-tags like the $67 billion Pfizer Inc paid for Wyeth or the $41 billion Merck & Co spent on Schering-Plough in 2009, but it does mean many more industry names will be targeted in 2011.