James Taylor

Countrywide backs Apollo bid(2)

Shareholders in Countrywide, a UK estate agency, voted overwhelmingly in favour of Apollo Management’s £1.05 billion offer today. The US buyout firm had been forced to sweeten its bid yesterday to fend off an eleventh hour approach from an unnamed suitor – reportedly UK group 3i.

KKR First Data deal faces lawsuit(2)

An aggrieved shareholder has launched a lawsuit against US buyout firm Kohlberg Kravis Roberts over its potential $29 billion deal for US firm First Data, on the grounds that the proposed bid is too low.

Fortress faces second Polygon battle(2)

US investment group Fortress may have to go head-to head with US hedge fund Polygon for a second time, over the buyout of London-listed reinsurer Alea.

CCMP faces $32m South Korean tax bill(2)

CCMP Capital Asia has been hit with $32 million tax bill from the South Korean authorities, in the latest setback for private equity firms active in the country.

ASE shares soar as Carlyle gives up(2)

Shares in Taiwan-based ASE, the world’s largest chip testing company, soared to a seven year high today, after The Carlyle Group withdrew its $6 billion bid for the company. Many investors felt the offer was too low.

GMB switches attack to Alliance Boots(2)

Kohlberg Kravis Roberts’ £10.1 billion bid for Alliance Boots, potentially the largest European buyout to date, has become the latest deal to attract the ire of the UK-based GMB trade union, private equity’s most vociferous opponent.

Debenhams chief voices “whipping boy” fears(2)

Following another poor set of results and another share price fall, Debenhams chief executive Rob Templeman fears that his company is being made a scapegoat for private equity buyouts.

Qantas buyout back on(2)

The potential A$11billion buyout of Qantas, Australia’s biggest airline, looked to be back on today, after the Macquarie-led consortium restructured its deal to require a lower level of shareholder acceptance. Opposition from leading shareholders had looked likely to scupper the bid.

CVC admits defeat on Sainsbury bid(2)

The Sainsbury family seems to have triumphed in its bid to keep the UK retailer out of private equity hands, after the last remaining members of the buyout consortium admitted defeat in their battle to take the company private.

Apollo buys $1.5bn Xstrata division(2)

US buyout firm Apollo Management has continued its recent spate of activity by agreeing a $1.5 billion deal for the aluminium business of Xstrata, an Anglo-Swiss mining group.