Liana's Feed
Jul 28, 2015

Exclusive: Education company Blackboard seeks $3 billion sale – sources

By Liana B. Baker, Greg Roumeliotis and Mike Stone

(Reuters) – Blackboard Inc, a U.S. software company that provides learning tools for high school and university classrooms, is exploring a sale that it hopes could value it at as much as $3 billion, including debt, according to people familiar with the matter.

Blackboard’s majority owner, private equity firm Providence Equity Partners LLC, has hired Deutsche Bank AG (DBKGn.DE: Quote, Profile, Research, Stock Buzz) and Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) to run an auction for the company, the people said this week.

Jul 22, 2015

Qualcomm slashes jobs and costs, says may split itself up

By Lehar Maan and Liana B. Baker

(Reuters) – Chipmaker Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) said it may break itself up as it delivered its third profit warning this year and announced plans to slash jobs and spending in the face of rising competition.

The company said it would reduce costs by about $1.4 billion, cut about 4,500 full-time staff, or 15 percent of its workforce, and boost capital returns to shareholders.

Jul 20, 2015

Payment processor First Data Corp files for IPO

July 20 (Reuters) – U.S. payment processor First Data Corp
filed with U.S. regulators on Monday for an initial public
offering of common stock, setting up an exit for its private
equity owner KKR & Co LP following one of the largest
leveraged buyouts ever.

KKR took First Data private for about $29 billion in 2007.
As one of the mega leveraged buyouts that came to epitomize the
credit binge preceding the 2008 financial crisis, it proved a
challenging investment for KKR, as profits were overwhelmed by
the large amount of debt it put on the company.

Jul 20, 2015

Exclusive: Micron does not believe deal with Tsinghua is possible – sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Micron Technology Inc (MU.O: Quote, Profile, Research, Stock Buzz) has told China’s Tsinghua Unigroup Ltd that its $23 billion (14.76 billion pounds) acquisition offer is not realistic because U.S. authorities would block the deal due to national security concerns, according to people familiar with the matter.

The Boise, Idaho-based chipmaker’s response to Tsinghua’s overtures illustrates the hurdles the Chinese state-backed investment firm would have to overcome given the enormous dependence of modern weapons on computer chips.

Jul 20, 2015

Micron does not believe deal with Tsinghua is possible -sources

July 20 (Reuters) – Micron Technology Inc has told
China’s Tsinghua Unigroup Ltd that its $23 billion acquisition
offer is not realistic because U.S. authorities would block the
deal due to national security concerns, according to people
familiar with the matter.

The Boise, Idaho-based chipmaker’s response to Tsinghua’s
overtures illustrates the hurdles the Chinese state-backed
investment firm would have to overcome given the enormous
dependence of modern weapons on computer chips.

Jul 17, 2015

Exclusive: Thoma Bravo assembling consortium for $9 billion NCR bid

By Greg Roumeliotis and Liana B. Baker

(Reuters) – Thoma Bravo LLC has been speaking to some of its largest private equity investors about putting together a bid for NCR Corp (NCR.N: Quote, Profile, Research, Stock Buzz) that could value the ATM maker at around $9 billion, including debt, according to people familiar with the matter.

Thoma Bravo is also in advanced talks with close to a dozen banks about securing debt financing for a bid for NCR that could come in the next few days, the people said this week. The deal would be this year’s largest leveraged buyout.

Jul 13, 2015

Moelis & Co adds new semiconductor banker – memo

July 13 (Reuters) – Moelis & Co has hired investment
banker Zach Righellis as a managing director to build up a
practice in semiconductors and electronics, one of the most
active areas this year in technology dealmaking, the company
said on Monday.

Righellis, who was at Barclays Plc where he focused
on clients in the United States, Europe, Asia and Israel, will
be based in Palo Alto, California, and continue to work with
global clients. Moelis made the announcement in a memo on
Monday.

Jul 9, 2015

Thomas H. Lee in the lead to buy eBay’s enterprise unit: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Private equity firm Thomas H. Lee Partners LP is in advanced talks to acquire the enterprise business of eBay Inc (EBAY.O: Quote, Profile, Research, Stock Buzz) for close to $1 billion, according to people familiar with the matter.

Thomas H. Lee has so far outbid other parties in the auction for the business, though disagreements over price persist and there is no certainty that a deal will be reached, the people said this week.

Jun 30, 2015

Interactive Data Corp taps banks for sale or IPO: sources

By Liana B. Baker and Greg Roumeliotis

(Reuters) – Interactive Data Corp, one of the world’s largest financial data providers, has hired banks for a potential sale or an initial public offering that could value it at more than $5 billion, including debt, people familiar with the matter said on Tuesday.

IDC’s owners, private equity firms Silver Lake Group LLC and Warburg Pincus LLC, have asked Credit Suisse Group AG (CSGN.VX: Quote, Profile, Research, Stock Buzz) and Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) to run an auction for the company, the people said.

Jun 19, 2015

Exclusive: Advanced Micro Devices mulling breakup, spinoff – sources

By Liana B. Baker

(Reuters) – Chipmaker Advanced Micro Devices is at the initial stage of reviewing whether to split itself in two or spin off a business, seeking to reverse its fortunes and take on rival Intel Corp, according to three people familiar with the matter.

The deliberations are preliminary and no decision has been made, the people said. The review highlights Chief Executive Lisa Su’s determination to consider every possible option to turn the company around.