Olivia's Feed
Mar 4, 2015

Bain Capital, Golden Gate vying for Ann Taylor parent -sources

March 4 (Reuters) – Private equity firms Bain Capital LLC
and Golden Gate Capital Corp are competing to acquire Ann Inc
, the struggling U.S. women’s retailer and owner of the
Ann Taylor brand, according to people familiar with the matter.

The negotiations with the buyout firms make Ann, which has a
market capitalization of $1.6 billion, the latest retailer to
seek a leveraged buyout in response to declining earnings. A
deal is highly uncertain, however, because banks are reluctant
to provide as much debt as buyout firms want amid economic
concerns over these retailers, as well as regulatory
constraints.

Feb 27, 2015

Exclusive: Private equity firm TowerBrook close to a deal for women’s retailer J. Jill – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Private equity firm TowerBrook Capital Partners is in advanced talks to acquire women’s retailer J. Jill, according to two people familiar with the matter.

A deal is likely to be valued at more than $400 million and could be announced as early as next week, the people said, cautioning that negotiations have not yet been finalized. The people asked not to be named because the matter is private.

Feb 27, 2015

Private equity firm TowerBrook close to a deal for women’s’ retailer J. Jill: sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Private equity firm TowerBrook Capital Partners is in advanced talks to acquire women’s retailer J. Jill, according to two people familiar with the matter.

A deal is likely to be valued at more than $400 million and could be announced as early as next week, the people said, cautioning that negotiations have not yet been finalised. The people asked not to be named because the matter is private.

Feb 24, 2015

Boston Scientific near deal to buy Endo’s device unit: sources

NEW YORK (Reuters) – Boston Scientific Corp (BSX.N: Quote, Profile, Research, Stock Buzz) is close to buying Endo International PLC’s (ENDP.O: Quote, Profile, Research, Stock Buzz) AMS medical device unit, a deal that could value the business at around $2 billion, according to people familiar with the matter.

The companies are aiming to finalize an agreement within a matter of weeks, the people said this week, cautioning that discussions are continuing and could still fall apart.

Feb 23, 2015

Exclusive: TPG’s Par Pharmaceutical taps banks for IPO – sources

NEW YORK (Reuters) – Drugmaker Par Pharmaceutical Companies is preparing for an initial public offering later this year that could value the company at $3 billion to $4 billion, according to people familiar with the matter.

The Woodcliff Lake, New Jersey-based company, owned by private equity firm TPG Capital, could raise around $500 million in a public float, one of the people said.

Feb 23, 2015

Exclusive: Rare disease drugmaker PTC Therapeutics explores sale – sources

By Olivia Oran and Soyoung Kim

(Reuters) – Rare disease drugmaker PTC Therapeutics Inc (PTCT.O: Quote, Profile, Research, Stock Buzz) is exploring a potential sale amid takeover interest from several pharmaceutical companies, including Shire Plc (SHP.L: Quote, Profile, Research, Stock Buzz) and BioMarin Pharmaceutical Inc (BMRN.O: Quote, Profile, Research, Stock Buzz), according to people familiar with the matter.

The company, which treats a muscle-wasting disorder known as Duchenne, is working with financial advisers as it weighs strategic alternatives, said the sources, who asked not to be named because the matter is private.

Feb 13, 2015

Exclusive: Drugmaker Endo vying for Salix takeover: source

By Mike Stone and Olivia Oran

(Reuters) – Endo International Plc (ENDP.O: Quote, Profile, Research, Stock Buzz) has expressed interest multiple times to buy Salix Pharmaceuticals Ltd (SLXP.O: Quote, Profile, Research, Stock Buzz) but has been rebuffed by the U.S. maker of bowel drugs, according to a person familiar with the matter.

Endo, which makes drugs that focus on pain management, and its advisers have sent several letters to the company, and it remains interested in a potential takeover, said the person, who asked not to be identified because the deliberations are confidential.

Feb 13, 2015

Private equity feels squeeze from junk loan crackdown

NEW YORK, Feb 13 (Reuters) – Big private equity deals have
fallen through or had to be reworked in recent weeks because
many banks, under U.S. regulatory pressure to reduce their
risk-taking, are no longer willing to provide as much debt as
their clients want.

This could lead to lower returns for private equity
investors, because they are being asked to put more of their own
money into deals, potentially reducing their return on equity.
Reuters interviews with several private equity executives and
investment bankers, who asked not to be identified disclosing
confidential information, show that buyout firms now regularly
project annualized returns of about 15 percent when they agree
to deals, even as they promise 20 percent-plus returns to
investors.

Feb 13, 2015

Exclusive: Shire moves to prepare Salix bid – sources

By Olivia Oran

(Reuters) – British pharmaceutical company Shire Plc (SHP.L: Quote, Profile, Research) has taken initial steps towards a bid for U.S. bowel drugmaker Salix Pharmaceuticals Inc (SLXP.O: Quote, Profile, Research) and is working with advisers on a potential offer, according to people familiar with the matter.

    Shire is evaluating how to secure financing for a Salix bid, one of the sources said. The sources cautioned that Shire may still decide against a bid given the deal’s complexity. Salix is considering its options in the midst of a management shakeup and inventory issues, sources previously told Reuters.

Feb 12, 2015

Hormel Foods nears deal for Applegate Farms-sources

Feb 12 (Reuters) – Hormel Foods Corp is in
late-stage talks to acquire Applegate Farms LLC, a privately
held producer of organic hot dogs, bacon and sausages, to
enhance its branded protein offerings, according to people
familiar with the matter.

A deal for Applegate Farms could be announced as early as
next week and value the Bridgewater, New Jersey-based company at
between $600 million and $1 billion, the people said, asking not
to be named because the matter is confidential.