Olivia's Feed
Mar 26, 2015

Surgery Partners, preparing for summer IPO, hires banks: sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Surgery Partners LLC is preparing for an initial public offering (IPO) in the summer that could value the private equity-owned surgical center manager at about $2 billion, including debt, according to people familiar with the matter.

Surgery Partners, owned by H.I.G Capital LLC, is working with investment banks including Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz), Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) and Jefferies LLC on the potential IPO, the people said this week.

Mar 26, 2015

Exclusive: AB InBev to nominate JAB partner as chairman – sources

LONDON/NEW YORK (Reuters) – Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz), the world’s largest brewer, is close to proposing JAB Holding Chief Executive Olivier Goudet as its next chairman, according to four sources familiar with the matter.

The ascent of Goudet, a Frenchman who has been on the AB InBev board since 2011, highlights the close ties between the associates of JAB and 3G Capital, two of the most important private investors in the global consumer goods industry. 3G Capital has four of its founding partners on the brewer’s board.

Mar 26, 2015

AB InBev to nominate JAB partner as chairman – sources

LONDON/NEW YORK, March 26 (Reuters) – Anheuser-Busch InBev
, the world’s largest brewer, is close to proposing JAB
Holding Chief Executive Olivier Goudet as its next chairman,
according to four sources familiar with the matter.

The ascent of Goudet, a Frenchman who has been on the AB
InBev board since 2011, highlights the close ties between the
associates of JAB and 3G Capital, two of the most important
private investors in the global consumer goods industry. 3G
Capital has four of its founding partners on the brewer’s board.

Mar 25, 2015

Small is beautiful for Kraft, Heinz investment bankers

By Olivia Oran

(Reuters) – Lazard Ltd (LAZ.N: Quote, Profile, Research, Stock Buzz) and Centerview Partners LLC have only a fraction of the staff and resources of their larger investment banking brethren, such as Goldman Sachs Group Inc G.SN and JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz).

Yet the independent investment banks won the biggest deal of the year so far, the merger of H.J. Heinz Co and Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz), using their sector expertise and personal relationships with company executives.

Mar 25, 2015

Kraft in talks to be acquired by Brazil’s 3G Capital: source

By Olivia Oran

(Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz), maker of Velveeta cheese and Oscar Mayer meats, is in talks to be acquired by Brazilian private equity firm 3G Capital, a source familiar with the matter told Reuters on Tuesday.

3G teamed up with Warren Buffett’s Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) to acquire Ketchup maker H.J. Heinz Co for $23.2 billion two years ago. 3G is now expected to merge Kraft with Heinz if it clinches a deal.

Mar 12, 2015

Endo’s bid for Salix shows its strategy as Valeant challenger

By Olivia Oran

(Reuters) – Endo International Plc’s (ENDP.O: Quote, Profile, Research, Stock Buzz) $11 billion offer this week for Salix Pharmaceuticals Ltd (SLXP.O: Quote, Profile, Research, Stock Buzz), an effort to trump an agreed $10 billion bid from Valeant Pharmaceutical Inc (VRX.TO: Quote, Profile, Research, Stock Buzz), illustrates CEO Rajiv De Silva’s plan to be seen as not just a protege of Valeant chief Mike Pearson, but as a challenger.

Endo’s acquisition strategy — it has completed six deals since 2013 — echoes that of Valeant, which is well known for buying up smaller companies to gain scale. If successful, buying Raleigh, North Carolina-based Salix would combine Endo’s existing urology portfolio with Salix’s gastrointestinal drugs and could lift Endo’s $15 billion market cap by about $11 billion, Salix’s current market value.

Mar 12, 2015

Analysis – Endo’s bid for Salix shows its strategy as Valeant challenger

By Olivia Oran

(Reuters) – Endo International Plc’s (ENDP.O: Quote, Profile, Research) $11 billion offer this week for Salix Pharmaceuticals Ltd (SLXP.O: Quote, Profile, Research), an effort to trump an agreed $10 billion bid from Valeant Pharmaceutical Inc (VRX.TO: Quote, Profile, Research), illustrates CEO Rajiv De Silva’s plan to be seen as not just a protege of Valeant chief Mike Pearson, but as a challenger.

Endo’s acquisition strategy — it has completed six deals since 2013 — echoes that of Valeant, which is well known for buying up smaller companies to gain scale. If successful, buying Raleigh, North Carolina-based Salix would combine Endo’s existing urology portfolio with Salix’s gastrointestinal drugs and could lift Endo’s $15 billion market cap by about $11 billion, Salix’s current market value.

Mar 11, 2015

Funds urge Children’s Place to improve results, explore sale -source

March 11 (Reuters) – Activist hedge funds Barington Capital
Group LP and Macellum Advisors GP LLC are urging specialty
retailer the Children’s Place Inc to improve its
operating results and to explore a potential sale, the funds
said in a letter addressed to the company’s board.

The investors, who own a combined 2 percent of the Secaucus,
New Jersey-based retailer, say the company should look at
improvements in its sales and margins, inventory management and
capital allocation. They also called on Children’s Place to add
new independent directors to address executive compensation
packages, which they believe are too high.

Mar 11, 2015

Exclusive: Cycling chain SoulCycle considers going public – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – SoulCycle Holdings LLC, the U.S. indoor cycling chain that describes its classes as a “dance party on a bike,” is mulling an initial public offering as part of a review of strategic options, according to people familiar with the matter.

The review has been prompted by SoulCycle’s founders, who sold a majority stake in the chain to gym chain Equinox Holdings Inc in 2011 and are now evaluating ways to sell their remaining stake, the people said, asking not to be named because the matter is private.

Mar 11, 2015

Exclusive: General Mills looks to sell Green Giant frozen vegetable business – sources

By Olivia Oran and Anjali Athavaley

(Reuters) – General Mills Inc (GIS.N: Quote, Profile, Research, Stock Buzz) is looking to sell its Green Giant frozen and canned vegetable business, people familiar with the matter said, as the maker of Bisquick and Betty Crocker cake mixes struggles with weak sales of products like cereal.

The Minneapolis-based company is working with investment bank Rothschild on the potential sale, which is expected to take place later this summer, the sources said. They requested anonymity because the matter is private.