Hedge fund mogul William Ackman has bought a US$3.3 billion stake in Valeant Pharmaceuticals International, making his firm the drug company's fifth-largest stakeholder, a source told Reuters. Ackman's Pershing Square Capital Management began building up the 5 percent stake in the Canadian drug maker this year, only months after his effort to help Valeant buy Botox-maker Allergan failed.
2 min read · 10 March 2015
Brookfield Residential Properties Inc (TSX, NYSE: BRP) has received approval from its shareholders to proceed with a previously announced going private transaction whereby an affiliate of Brookfield Asset Management will obtain common shares of the firm that it does not already own. The deal, which is valued at US$871 million, is expected to close by the end of the month. Headquartered in Calgary, Brookfield Residential is a land developer and homebuilder with operations in markets across North America.
4 min read · 10 March 2015
Canadian healthcare information technology company Logibec Group Inc, which was recently acquired by U.S. private equity firm GI Partners, has purchased MediaMed Technologies Inc. The financial terms of the deal were not published. Based in Mont-Saint-Hilaire, Québec, MediaMed is a provider of business intelligence, performance analysis and emergency room software solutions for the healthcare industry. The Montréal-based Logibec said the acquisition is complementary to its financial and business intelligence solutions. MediaMed is Logibec's first add-on transaction since GI Partners bought the company from OMERS Private Equity in January.
4 min read · 10 March 2015
Blackstone Group LP has agreed to sell its 57 percent stake in India’s CMS Info Systems Ltd to Baring Private Equity (Asia) for $250 million, two sources with direct knowledge of the matter told Reuters.
1 min read · 09 March 2015
The following bids, mergers, acquisitions and disposals were reported by Reuters as of 2000 GMT on Monday, March 9, 2015.
2 min read · 09 March 2015
Late last month I caught up with Doug Ryder, a corporate partner in the New York office of Kirkland & Ellis LLP, for a discussion about what he’s seeing in the sponsor-backed deal market.
5 min read · 09 March 2015
Scorpio Gold Corp (TSX-V: SGN) has agreed to a private placement transaction with U.S. private equity firm Coral Reef Capital. Under the terms of the agreement, Coral Reef will acquire Scorpio units, generating US$15 million of gross proceeds. The company will use the proceeds to fund exploration and development of its mineral properties and for working capital. Following the deal's close, Coral Reef will hold 49.8 percent of Scorpio's outstanding shares. Based in Vancouver, Scorpio holds a 70 percent interest in Nevada's Mineral Ridge gold project. Its partner in the project is Canadian private equity firm Waterton Global Resource Management.
6 min read · 09 March 2015
Armacell, a portfolio company of British private equity firm Charterhouse Capital Partners, has agreed to purchase Industrial Thermo Polymers Ltd, a manufacturer of extruded polyethylene foam products with headquarters in Brampton, Ontario. The acquisition, the value of which was not disclosed, is expected to be completed this month. Armacell, a German provider of flexible insulation foams and engineered foams, said the deal will strengthen its market position and footprint in North America, especially in the pipe insulation business. Charterhouse bought the company from Bahrain's Investcorp in 2013.
3 min read · 09 March 2015
Advantage Sales & Marketing LLC (ASM) has bought The Linkage Group Inc, a third party merchandising and retail intelligence company based in Toronto. The financial terms of the transaction were not disclosed. ASM, a U.S. provider of customized services to consumer goods manufacturers and retailers, said the deal will allow the business to continue to grow its offering in Canada. Based in Irvine, California, ASM is a portfolio company of U.S. private equity firms CVC Capital Partners and Leonard Green & Partners. It was acquired from Apax Partners in July 2014.
2 min read · 09 March 2015
Canada's Concordia Healthcare Corp, which makes drugs for rare diseases and devices for diabetic patients, said it would buy some Swiss assets of Covis Pharma Holdings SARL for US$1.2 billion in cash, Reuters reported. Covis is controlled by affiliates of Cerberus Capital Management, Princeton Biopharma Capital Partners and Bourne Partners.
1 min read · 09 March 2015
