Paritosh's Feed
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.

Oct 26, 2011

Anatomy of a costly biotech deal for Olympus

Oct 26 (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.

Oct 20, 2011

Blackstone posts loss, hit by market decline

By Paritosh Bansal

(Reuters) – Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) posted a worse-than-expected quarterly loss on Thursday as market declines hit the value of the private equity firm’s investments, forcing it to book a huge accounting loss.

But Blackstone said assets under management on which it earns management fees increased during the quarter, and U.S. and European markets have rebounded since September 30.

Oct 18, 2011

Exclusive: Carlyle, Bain, Advent eye TransUnion

By Soyoung Kim and Paritosh Bansal

(Reuters) – Private equity firms Carlyle Group CYL.UL, Bain Capital and Advent International are competing to buy credit reporting firm TransUnion, which could fetch more than $2 billion, sources familiar with the matter said.

The auction is advanced, but a sale of the business is not certain as TransUnion’s majority owner Madison Dearborn Partners weighs whether it can get more value in an auction or through an initial public offering later, the sources said.

Oct 18, 2011

Carlyle, Bain, Advent eye TransUnion – sources

Oct 18 (Reuters) – Private equity firms Carlyle Group
[CYL.UL], Bain Capital and Advent International are competing
to buy credit reporting firm TransUnion, which could fetch more
than $2 billion, sources familiar with the matter said.

The auction is advanced, but a sale of the business is not
certain as TransUnion’s majority owner Madison Dearborn
Partners weighs whether it can get more value in an auction or
through an initial public offering later, the sources said.

Oct 12, 2011

BlackBerry outage frustrates bankers

Oct 12 (Reuters) – A senior investment banker at a major
Wall Street firm kept sending out e-mails on his BlackBerry on
Wednesday morning. And they kept bouncing back.

“It’s one of those things — you don’t realize how
important it is to breathe, until you can’t do it,” said the
New York-based banker, who declined to be named because he was
not authorized to speak about the subject on behalf of his
bank.

Oct 12, 2011

BlackBerry outage frustrates investment bankers

Oct 12 (Reuters) – A senior investment banker at a major
Wall Street firm kept sending out emails on his BlackBerry on
Wednesday morning. And they kept bouncing back.

“It’s one of those things — you don’t realize how
important it is to breathe, until you can’t do it,” said the
New York-based banker, who declined to be named because he was
not authorized to speak about the subject on behalf of his
bank.

Oct 10, 2011

Carlyle/Blackstone, THL are Morgan Keegan finalists

NEW YORK (Reuters) – Thomas H. Lee Partners and a consortium that includes Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) and Carlyle Group CYL.UL are finalists to acquire Regions Financial Corp’s (RF.N: Quote, Profile, Research, Stock Buzz) Morgan Keegan brokerage and investment banking unit, sources familiar with the matter said on Monday.

A deal is far from certain, the sources said, as debt-financing markets remain tight, and Morgan Keegan faces the challenge of keeping some 4,100 employees in place amid uncertainty about their future.

Oct 4, 2011

Bankers strike dour note on U.S. bank M&A

NEW YORK, Oct 4 (Reuters) – Investment bankers,
traditionally an optimistic lot, struck a dour note on bank
deals in the near future, describing their outlook with words
rarely heard spoken publicly in these circles — “bleak,”
“skeptical,” “really quiet.”

Volatile markets, sinking bank stocks, and an uncertain
regulatory and economic environment have brought bank deals to
a grinding halt at a time when the need for mergers is great,
financial services bankers and lawyers said on Tuesday.