Nadia's Feed
Feb 28, 2013

Top MetroPCS investor to vote against T-Mobile USA deal

NEW YORK (Reuters) – Paulson & Co, the largest shareholder of MetroPCS Communications Inc, said it will vote against the wireless service provider’s proposed merger with T-Mobile USA, a unit of Deutsche Telekom AG, unless the companies sweeten the deal.

Paulson, owner of 36.3 million shares or 9.9 percent of MetroPCS stock, is following in the footsteps of another shareholder, P. Schoenfeld Asset Management LP (PSAM). PSAM, whose holdings represented 1.66 percent of MetroPCS shares at year end, is leading a proxy battle against the merger.

Feb 28, 2013

Paulson to vote against MetroPCS/T-Mobile USA deal

NEW YORK (Reuters) – Paulson & Co, the largest shareholder of MetroPCS Communications Inc (PCS.N: Quote, Profile, Research, Stock Buzz), said it will vote against the wireless service provider’s proposed merger with T-Mobile USA, a unit of Deutsche Telekom (DTEGn.DE: Quote, Profile, Research, Stock Buzz), unless the companies sweeten the deal.

Paulson, an owner of 36.3 million shares or 9.9 percent of MetroPCS stock, is following in the footsteps of another shareholder, P. Schoenfeld Asset Management LP (PSAM). PSAM, whose holdings represented 1.66 percent of MetroPCS shares at year end, is leading a proxy battle against the merger.

Feb 26, 2013

Tribune hires banks to explore sale of dailies

By Nadia Damouni and Jennifer Saba

(Reuters) – Tribune Co has hired investment banks Evercore Partners and J.P. Morgan to assess interest in its newspaper unit, which includes The Los Angeles Times and Chicago Tribune, the company confirmed in a statement on Tuesday.

A sale of its eight major newspapers, which also include The Baltimore Sun, has been widely expected since Tribune emerged from a four-year bankruptcy process late last year.

Feb 26, 2013

Juniper mulls next move after asset sale talks falter-sources

NEW YORK, Feb 26 (Reuters) – Juniper Networks Inc (JNPR.N: Quote, Profile, Research)
is reviewing its enterprise-focused networking business after
talks fell through late last year to sell assets, including
security unit NetScreen Technologies, several sources close to
the matter told Reuters.

The world’s No. 2 networking gear maker is mulling options
that could include acquisitions to bolster the security and
enterprise business, with a longer-term view of a sale or
spin-off, two of the sources said. For acquisition financing it
could decide to raise cash through a private sale of equity, the
sources familiar with the company’s thinking said.

Feb 26, 2013

Exclusive: Juniper mulls next move after asset sale talks falter – sources

NEW YORK (Reuters) – Juniper Networks Inc is reviewing its enterprise-focused networking business after talks fell through late last year to sell assets, including security unit NetScreen Technologies, several sources close to the matter told Reuters.

The world’s No. 2 networking gear maker is mulling options that could include acquisitions to bolster the security and enterprise business, with a longer-term view of a sale or spin-off, two of the sources said. For acquisition financing it could decide to raise cash through a private sale of equity, the sources familiar with the company’s thinking said.

Feb 21, 2013

Compuware, after rejecting Elliott bid, explores sale

NEW YORK (Reuters) – Business software maker Compuware Corp, which has rejected a $2.3 billion bid by an activist investor, is exploring a sale and talking to buyout firms to gauge takeover interest, four people familiar with the matter said.

The Detroit-based company has held early talks with several large private equity firms, including Blackstone Group LP and TPG Capital LP about a potential deal, the people said on Thursday.

Feb 21, 2013

Forstmann Little to sell talent agency IMG – sources

NEW YORK, Feb 20 (Reuters) – Private equity firm Forstmann
Little & Company has decided to put its sports and modeling
talent agency IMG up for sale and is in the process of picking
an investment bank to lead the effort, three people familiar
with the matter said.

The decision to shop IMG, which represents top tennis player
Novak Djokovic and supermodel Gisele Bundchen and owns the
rights to numerous sports leagues, is being driven by the
trustee that runs the estate of Teddy Forstmann – IMG’s former
chairman and chief executive who died in 2011, the people said.

Feb 21, 2013

Forstmann Little decides to sell talent agency IMG: sources

NEW YORK (Reuters) – Private equity firm Forstmann Little & Company has decided to put its sports and modeling talent agency IMG up for sale and is in the process of picking an investment bank to lead the effort, three people familiar with the matter said.

The decision to shop IMG, which represents top tennis player Novak Djokovic and supermodel Gisele Bundchen and owns the rights to numerous sports leagues, is being driven by the trustee that runs the estate of Teddy Forstmann – IMG’s former chairman and chief executive who died in 2011, the people said.

Feb 19, 2013

Office Depot, OfficeMax in talks to merge; deal seen soon

NEW YORK (Reuters) – Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz), the No.2 U.S. office supply retailer, is in advanced talks to merge with smaller rival OfficeMax Inc (OMX.N: Quote, Profile, Research, Stock Buzz) and a deal could come as early as this week, a person familiar with the matter said on Monday.

Both companies, which trail industry leader Staples Inc (SPLS.O: Quote, Profile, Research, Stock Buzz), are under much pressure from investors to boost profitability as well as shareholder value, and a merger would help them to cut costs, close stores and boost their clout with suppliers.

Feb 19, 2013

OfficeMax investor says will support Office Depot merger

NEW YORK (Reuters) – Neuberger Berman LLC, one of OfficeMax Inc’s (OMX.N: Quote, Profile, Research, Stock Buzz) top shareholders, would support a merger with Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz) depending on deal terms, according to a portfolio manager at the investment firm.

Benjamin Nahum of Neuberger Berman told Reuters in an interview that his preference would be for OfficeMax to declare a special dividend before merging with Office Depot.