J.C. Flowers Asset Management has teamed with Credit Suisse Asset Management (CSAM) to raise a fund that will invest in the mezzanine and equity tranches of US and European Collateralized Loan Obligations (CLOs), according to a letter sent to investors last month, Reuters reported.
2 min read · 09 August 2016
Ontario Steel Investment Ltd, a group that includes shareholders of Essar Global, said that it had submitted an offer for the purchase of U.S. Steel Canada Inc, which has been in creditor protection since 2014, Reuters reported. The offer includes the assumption of $954 million in liabilities under U.S. Steel Canada's pension plan and a commitment to provide $25 million toward post-employment benefits for U.S. Steel Canada's past and present staff. Last month, Ontario Steel Investment launched a bid to acquire Essar Steel Algoma Inc.
2 min read · 09 August 2016
Investor backing for agriculture technology startups cooled in the first half of 2016 after record global investment last year, Reuters reported. Funding from venture capitalists and others totaled US$1.8 billion through the first six months of the year, down 20 percent from a year earlier, while the number of deals rose 7 percent to 307, ag investment platform AgFunder said. The pullback was in line with the broader venture capital market.
2 min read · 09 August 2016
Riverstone Holdings LLC, a private equity firm that focuses on energy and power sectors, said it would sell U.S.-based oil and gas explorer Rock Oil Holdings LLC to SM Energy Co (SM.N) for $980 million in cash, Reuters News reported.
1 min read · 09 August 2016
Honeywell International Inc is in talks to acquire JDA Software Group Inc, in a deal that could value the U.S. supply chain management software company at around $3 billion, including debt, sources told Reuters.
2 min read · 09 August 2016
Logan's Roadhouse Inc, a steakhouse chain with about 260 restaurants, filed for bankruptcy protection on Monday after struggling with falling sales, rising labor and food costs and competition from casual dining rivals, Reuters reported.
2 min read · 08 August 2016
The Bank of Canada wants the country's banks to start a fund that would invest in small- and medium-sized businesses in Canada to help foster better global expansion for domestic companies, Reuters reported, citing a story by the Globe and Mail. The plan would see banks and potentially pension funds and insurers put money into a private sector fund of at least $1 billion that would make debt and equity investments of $2 million to $20 million in Canadian companies.
1 min read · 08 August 2016
Financial services firm TIAA said it would buy U.S. online lender EverBank Financial Corp (EVER.N) for about $2.5 billion to expand its banking services.
1 min read · 08 August 2016
PCP Capital Partners, the investment vehicle of dealmaker Amanda Staveley is looking at acquiring a strategic stake in a Greek bank and using it as a platform to invest up to $2 billion in non-performing loans in the sector, Staveley said on Monday.
2 min read · 08 August 2016
Wal-Mart Stores Inc said on Monday it would buy online retailer Jet.com for about $3 billion, the largest-ever deal for an e-commerce startup, as it races to build a Web business to better compete with Amazon.com Inc.
2 min read · 08 August 2016
