Paritosh's Feed
Oct 31, 2011

MF Global seen near asset sale, bankruptcy for holding company

NEW YORK (Reuters) – Troubled brokerage MF Global Holdings Ltd (MF.N: Quote, Profile, Research) was nearing a deal late on Sunday night to file for bankruptcy protection and sell assets to Interactive Brokers Group (IBKR.O: Quote, Profile, Research), media reports said.

As per a tentative plan, MF Global’s holding company would file for bankruptcy protection and derivatives trader Interactive Brokers would buy the assets, the Wall Street Journal and the Financial Times reported.

Oct 31, 2011

MF Global seeks sale, hires restructuring advisers

NEW YORK (Reuters) – MF Global Holdings Ltd was in talks on Sunday with possible buyers with the goal “squarely” of doing a deal, though all options remained on the table as the firm hired restructuring and bankruptcy advisers, sources familiar with the situation said.

Sullivan & Cromwell’s restructuring and mergers teams have joined the long roster of those advising MF Global, one source familiar with the situation said.

Oct 30, 2011

MF Global seeks sale, all options on table: source

NEW YORK (Reuters) – MF Global Holdings Ltd was in talks on Sunday with possible buyers with the aim “squarely” on doing a deal, though all options were on the table, a person briefed on the matter said.

A number of interested parties were considering several possible deals, including buying all or parts of the troubled U.S. futures brokerage run by former Goldman Chief Executive Jon Corzine, said the source, who requested anonymity.

Oct 29, 2011

MF Global aims for sale by Monday -source

Oct 28 (Reuters) – MF Global Holdings Ltd is racing
to sell all or part of its business this weekend, with its
futures brokerage business seen as the most attractive, a
source familiar with the situation said on Friday.

MF Global has reached out to major banks including Barclays
PLC , Citigroup Inc , Deutsche Bank ,
Jefferies Group Inc , JPMorgan Chase & Co ,
Macquarie Group Ltd , State Street Corp and
Wells Fargo , according to the source.

Oct 29, 2011

MF Global aims for sale by Monday: source

By Jonathan Spicer and Paritosh Bansal

(Reuters) – MF Global Holdings Ltd is racing to sell all or part of its business this weekend, with its futures brokerage business seen as the most attractive, a source familiar with the situation said on Friday.

MF Global has reached out to major banks including Barclays PLC, Citigroup Inc, Deutsche Bank, Jefferies Group Inc, JPMorgan Chase & Co, Macquarie Group Ltd, State Street Corp and Wells Fargo, according to the source.

Oct 28, 2011

Pressure mounts on MF Global to strike a deal

Oct 28 (Reuters) – Pressure mounted on MF Global Holdings
Ltd to sell major assets or the entire company after a
week in which its shares fell by two-thirds and its credit
ratings were cut to junk.

Shares of the company run by former Goldman executive Jon
Corzine hit another all-time low on Friday.

Oct 28, 2011

Pressure mounts on MF Global to strike a deal

Oct 28 (Reuters) – Pressure mounted on MF Global Holdings
Ltd (MF.N: Quote, Profile, Research) to sell major assets or the entire company after a
week in which its shares fell by two-thirds and its credit
ratings were cut to junk.

Shares of the company run by former Goldman executive Jon
Corzine hit another all-time low on Friday.

Oct 27, 2011

Exclusive: TransUnion sale shelved, IPO eyed: sources

By Soyoung Kim and Paritosh Bansal

(Reuters) – Private equity firm Madison Dearborn Partners has decided against selling TransUnion and will pursue a public offering for the credit reporting firm as originally planned, sources familiar with the matter said.

A sale of the business, which competes with firms such as Experian Plc (EXPN.L: Quote, Profile, Research, Stock Buzz) and Equifax Inc (EFX.N: Quote, Profile, Research, Stock Buzz), was expected to fetch more than $2 billion, but the bidders could not meet Madison Dearborn’s price expectations, sources said.

Oct 27, 2011

TransUnion sale shelved, IPO eyed-sources

Oct 27 (Reuters) – Private equity firm Madison Dearborn
Partners has decided against selling TransUnion and will pursue
a public offering for the credit reporting firm as originally
planned, sources familiar with the matter said.

A sale of the business, which competes with firms such as
Experian Plc (EXPN.L: Quote, Profile, Research) and Equifax Inc (EFX.N: Quote, Profile, Research), was expected to
fetch more than $2 billion, but the bidders could not meet
Madison Dearborn’s price expectations, sources said.

Oct 26, 2011

Insight: Anatomy of a costly biotech deal for Olympus

By Paritosh Bansal, Kirstin Ridley and Kevin Krolicki

(Reuters) – Soon after paying a record-setting fee to close a now-controversial takeover in the spring of 2010, Japanese camera and endoscope maker Olympus Corp was back out shopping for another deal.

Once again, it turned to a New York-based advisory firm outside the dealmaking mainstream and once again the Japanese company ended up paying an out-sized amount to complete a tangled deal that has come under scrutiny, internal company documents show.