Market fears damp banker optimism on merger Monday
NEW YORK, Aug 15 (Reuters) – Dealmakers are worried about
market volatility and its impact on mergers and acquisitions in
the second half of the year, drawing little solace from a spate
of transactions announced on Monday.
Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) surprised the market with its largest
deal to date, a $12.5 billion acquisition of phone hardware
maker Motorola Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz).
Market chaos raises concerns for private equity
NEW YORK, Aug 12 (Reuters) – Private equity firms
frustrated over long-delayed plans to sell companies in their
portfolios are bunkering down for an even longer wait.
Buyout executives who a month ago were cheering
second-quarter market gains as an opportunity to take their
investments public are now worrying that the market turmoil of
August could delay their exit plans.
Blackstone, TPG, others bid for Morgan Keegan
NEW YORK, Aug 12 (Reuters) – Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), TPG
[TPG.UL] and Stifel Financial Corp (SF.N: Quote, Profile, Research, Stock Buzz) are among more than
half a dozen firms that put in initial bids for Regions
Financial Corp’s (RF.N: Quote, Profile, Research, Stock Buzz) Morgan Keegan brokerage unit, sources
familiar with the situation said.
Some of these firms have paired up with other firms to bid
for the unit, which has a book value of about $1.5 billion, the
sources said. The auction is now in the second round, they
said.
Apollo ENI rises, driven by private equity
NEW YORK, Aug 9 (Reuters) – Apollo Global Management LLC
(APO.N: Quote, Profile, Research, Stock Buzz) said second-quarter earnings rose, helped by higher
profits from its private equity unit.
Apollo, in its second quarterly earnings report since its
initial public offering in March, said economic net income
(ENI) — a measure used by private equity firms — was $140
million, up from $23 million a year earlier.
Dealtalk: Icahn playbook gets predictable, critics say
NEW YORK (Reuters) – Carl Icahn’s playbook might be too predictable.
The billionaire investor has made one of his biggest takeover bids in a decades-long career, offering to buy Clorox Co (CLX.N: Quote, Profile, Research) for $10.7 billion — and hardly anyone thinks he is serious.
Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate.
Icahn playbook gets predictable, critics say
NEW YORK, Aug 3 (Reuters) – Carl Icahn’s playbook might be
too predictable.
The billionaire investor has made one of his biggest
takeover bids in a decades-long career, offering to buy Clorox
Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is
serious.
Dealtalk: Icahn treads fine line between activism, nuisance
NEW YORK (Reuters) – Carl Icahn’s playbook might be too predictable.
The billionaire investor has made one of his biggest takeover bids in a decades-long career, offering to buy Clorox Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is serious.
Clorox flatly turned down the bid by the 75-year-old corporate raider-turned-activist as not credible and inadequate.
Icahn treads fine line between activism, nuisance
NEW YORK, Aug 3 (Reuters) – Carl Icahn’s playbook might be
too predictable.
The billionaire investor has made one of his biggest
takeover bids in a decades-long career, offering to buy Clorox
Co (CLX.N: Quote, Profile, Research, Stock Buzz) for $10.7 billion — and hardly anyone thinks he is
serious.
KKR’s lower earnings miss estimates, shares fall
NEW YORK (Reuters) – Private equity firm KKR & Co (KKR.N: Quote, Profile, Research, Stock Buzz) reported lower-than-expected second-quarter earnings on Wednesday as investment income declined and the value of its investments rose less than the previous year, sending its shares lower.
However, KKR, which has investments in companies including retailer Dollar General (DG.N: Quote, Profile, Research, Stock Buzz), hospital operator HCA (HCA.N: Quote, Profile, Research, Stock Buzz) and media ratings company Nielsen (NLSN.N: Quote, Profile, Research, Stock Buzz), said its private equity funds rose 4 percent in the quarter and 10 percent for the year to date.
CD&R in talks to buy Ingersoll-Rand unit: sources
NEW YORK (Reuters) – Industrial conglomerate Ingersoll Rand (IR.N: Quote, Profile, Research, Stock Buzz) is in late-stage discussions with private equity firm Clayton Dubilier & Rice to sell its Hussmann refrigeration business, two people familiar with the matter said.
The value was not immediately clear on Tuesday. Hussmann — which provides supermarkets and food retailers with display cases, refrigeration systems and beverage coolers — is likely to be valued at less than $750 million, people familiar with the business told Reuters previously.
