Martinne's Feed
Jan 30, 2013

Organix Hair Care looking for buyers: sources

NEW YORK (Reuters) – Organix Hair Care, a maker of haircare products, is up for sale in a deal that could be worth $800 million or more, according to three sources familiar with the matter.

Organix’s owner, Florida-based haircare company Vogue International, is being advised by Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) on the potential sale, according to the sources, who declined to be identified since the talks are private.

Jan 29, 2013

Apollo, Metropoulos near deal for Hostess Twinkies: sources

NEW YORK (Reuters) – Private equity firms Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) and C. Dean Metropoulos & Co are near a deal to buy snack cake brands including Hostess Twinkies and Donettes, two sources familiar with the matter said on Tuesday.

A deal for roughly $400 million, part of Hostess Brands Inc’s HTBRS.UL bankruptcy process, could be announced as soon as Tuesday, said one of the sources, who declined to be identified as the discussions are not public.

Jan 28, 2013

Hostess picks stalking horse bidders for Drake’s, bread brands

Jan 28 (Reuters) – Hostess Brands Inc said on
Monday it has selected stalking horse bidders for its Drake’s
cake business and additional bread brands that will net the
bankrupt bakery company more than $56 million.

The announcement of the bidders comes as part of the
company’s bankruptcy reorganization.

Jan 28, 2013

Hostess expects bids for Drake’s, bread brands-source

By Martinne Geller

(Reuters) – Hostess Brands Inc HTBRS.UL is close to securing initial bids for its Drake’s cake business and four bread operations that could net the bankrupt bakery company more than $50 million, according to a source familiar with the matter.

An announcement of the deals, part of the company’s bankruptcy reorganization, could come on Monday, according to the source, who requested anonymity because the talks are not public.

Jan 25, 2013

Hostess says near deal to sell Drake’s cake unit

By Martinne Geller

(Reuters) – Hostess Brands Inc HTBRS.UL plans to submit an agreement next week to sell its Drake’s cake business as part of its bankruptcy reorganization, a lawyer for the company said on Friday.

Heather Lennox, an attorney for Hostess, told a court in White Plains, New York, that Hostess was also in advanced discussions with a number of parties for the remainder of its snack business, which includes Twinkies, according to a spokesman for Hostess.

Jan 18, 2013

U.S. regulators, AB Inbev in tough talks on beer deal

WASHINGTON (Reuters) – U.S. antitrust regulators are dissatisfied with proposals made by Anheuser-Busch Inbev SA (ABI.BR: Quote, Profile, Research, Stock Buzz) in its bid to buy the half of Mexican brewer Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz) that it does not already own as it works to finish its investigation of the deal, a source close to the talks told Reuters.

The Justice Department’s Antitrust Division has shifted into high gear in recent weeks as it looks at the plan by the world’s largest brewer to buy out Modelo for $20.1 billion.

Jan 17, 2013

Herbalife reports strong results, no bigger buyback

By Martinne Geller

(Reuters) – Weight-loss products company Herbalife Ltd (HLF.N: Quote, Profile, Research, Stock Buzz) forecast fourth-quarter earnings above analysts’ estimates on Thursday but did not announce a bigger share buyback program as some analysts expected, and its shares were down in afternoon trading.

It also said it expects a temporary bump in expenses due to its fight with activist hedge fund manager William Ackman, who last month revealed a short position in the stock, calling the multi-level marketer a “pyramid scheme” because distributors earn more than 10 times as much from recruitment as from selling the company’s products.

Jan 17, 2013

Bimbo, Metropoulos vie for Hostess cake brands-sources

NEW YORK, Jan 16 (Reuters) – Mexico’s Grupo Bimbo
and a partnership between Apollo Global Management
and veteran food executive C. Dean Metropoulos are among
the leading candidates to buy Hostess Brands Inc’s snack cake
brands, according to three people familiar with the matter.

Hostess, maker of the iconic Twinkies and Ding Dongs, would
like to announce by Jan. 25 a so-called stalking horse bidder
that would set a baseline for an auction and guarantee a buyer,
said two other people familiar with the matter.

Dec 24, 2012

Axon moves ahead with plan to oust SandRidge board

By Martinne Geller

(Reuters) – Hedge fund TPG-Axon Capital moved ahead with its effort to oust the board of U.S. oil and gas company SandRidge Energy Inc (SD.N: Quote, Profile, Research, Stock Buzz), saying it would file consent solicitation documents with U.S. regulators on Monday.

TPG-Axon, which owns 6.7 percent of SandRidge, said in its third letter to the company’s board, dated December 24, that it is giving shareholders a chance to “terminate your reign of value destruction”. It first revealed its plan last month.

Dec 20, 2012

Dealmakers look past winter, ‘fiscal cliff,’ for thaw

NEW YORK, Dec 20 (Reuters) – Perpetually optimistic
investment bankers are hoping a resolution to the U.S. “fiscal
cliff” and cheap, plentiful financing will fuel a rebound in
mergers and acquisitions in the spring of 2013 and set business
back on the road to recovery.

The high hopes come after a tough year for dealmakers, as
uncertainty about the euro zone, the U.S. presidential election
and deficit gave many CEOs cold feet. Global transaction volume
fell 3.7 percent this year to $2.357 trillion, according to
preliminary data from Thomson Reuters. The number of announced
deals fell 11 percent to 35,794, the data shows, its lowest
level since 2005.