2 min read · 23 June 2009
BC Partners this morning invested $350 million into retailer Office Depot Inc. (NYSE: ODP), which represents approximately a 20% ownership stake. The investment includes $275 million in newly-created 10% Series A convertible perpetual preferred stock, convertible at $5 per share (32% premium to yesterday's $3.79 per share closing price), and $75 million of newly-created 10% Series B convertible perpetual preferred stock, convertible at the same terms (assuming shareholder approval).
7 min read · 23 June 2009
Voyager Learning Co. (OTC BB: VLCY), an educational publisher for the K-12 market, has agreed to merge with Cambium Learning Inc., a provider of education services to at-risk and special student populations. The deal will result in Cambium sponsor Veronis Suhler Stevenson holding a majority stake in the combined public company, with Voyager stockholders to receive approximately $194 million.
10 min read · 23 June 2009
2 min read · 23 June 2009
1 min read · 23 June 2009
2 min read · 23 June 2009
1 min read · 23 June 2009
1 min read · 23 June 2009
2 min read · 22 June 2009
David Stith has joined Cantor Fitzgerald as a managing director, head of leveraged finance and head of financial sponsor coverage. He previously was a managing director in Merrill Lynch's leveraged finance group.
3 min read · 22 June 2009
