Buyout firm Onex Corp (OCX.TO) has revived an auction for Carestream Health that could value it at more than $3 billion, including debt, and is exploring a breakup of the U.S. medical imaging company, sources told Reuters News.
2 min read · 19 May 2016
Singapore state investor Temasek Holdings and a consortium that includes China Investment Corp (CIC) and KKR & Co (KKR.N) have advanced to a second round of bidding for a minority stake in Yum Brands Inc's (YUM.N) China unit, sources told Reuters News.
3 min read · 19 May 2016
Britain's second-biggest energy supplier, SSE, is considering selling up to a third of its 50 percent stake in regional gas distribution business SGN to raise cash for shareholders or to reinvest, Reuters reported. SSE could raise around 1 billion pounds (US$1.4 billion) from its sale, based on a 20 percent premium to the regulated asset base value of SGN, analysts at Jefferies said. SGN is co-owned by two Canadian pension fund investors: Ontario Teachers' Pension Plan and Ontario Municipal Employees Retirement System (OMERS). OMERS invested via Borealis Infrastructure.
2 min read · 18 May 2016
U.S. hedge fund Livermore Partners wants Entertainment One Ltd to add directors with more industry and financial expertise, the fund's top executive said, in its latest bid to spur changes at the Canadian media company, Reuters reported. The fund could also push for a share buyback if the company does not act on its demands, made in January, to slow down the pace of acquisitions and improve cash flow. Toronto-based Entertainment One, backed since last year by Canada Pension Plan Investment Board, was recently reported to be in talks to be acquired by U.K. television network ITV.
2 min read · 18 May 2016
Republican presidential candidate Donald Trump said on Tuesday that sweeping financial reforms put in place under President Barack Obama were harming the economy and he would dismantle nearly all of them, Reuters News reported.
3 min read · 18 May 2016
Quantenna Communications Inc, a U.S. company that designs Wi-Fi chips used in set-top boxes and wireless routers, has hired investment banks for an initial public offering (IPO) that could come later this year, Reuters News reported.
2 min read · 18 May 2016
U.S. private equity firm KKR (KKR.N) and Dubai-based Fajr Capital have teamed up as one of four bidders that have been shortlisted to buy a majority stake in Abu Dhabi-based National Food Products Company (NFPC), Reuters News reported.
2 min read · 18 May 2016
A trucking company half-owned by Australia's Asciano Ltd took the port and rail giant to court, demanding assurance about its future under an A$9.1 billion (US$6.7 billion) buyout of the parent company, a hiccup in the long-running deal, Reuters reported. In a preliminary hearing on Tuesday, Australian Container Freight Services Pty Ltd asked the Supreme Court of New South Wales to make Asciano confirm its rights under Asciano's plan to be bought by a host of global investors, including Canada's Brookfield Asset Management.
2 min read · 17 May 2016
Investment firm Investcorp Bank INVB.BH is exploring a sale of Polyconcept, hoping a deal will value the world's largest supplier of promotional products at more than $1.3 billion, including debt, sources told Reuters News.
1 min read · 17 May 2016
Samson Resources Corp, one of the largest energy companies to file for bankruptcy in the commodity downturn, proposed a new Chapter 11 exit plan on Tuesday that would swap ownership of the natural gas producer to banks in return for reducing debt, Reuters reported. The banks that would become the owners of Samson include the Bank of Montreal. The Tulsa, Oklahoma-based company was acquired by a group led by U.S. private equity firm Kohlberg Kravis Roberts & Co in 2011 in a buyout valued at US$7.2 billion.
2 min read · 17 May 2016
