Some of Canada's top pension funds, among the world's biggest investors in British real estate and infrastructure, are holding back on U.K. deals until after Britons vote on whether to leave the European Union, Reuters reported. These funds, which together manage more than $700 billion in assets, fear valuations could drop if Britain chooses to leave the bloc and have particular concerns about the impact on London's financial district.
3 min read · 17 March 2016
Investors in Caesars Entertainment Corp (CZR.O) were scrambling on Wednesday to grasp the cost from a court-ordered investigation that said the casino company could face $5 billion in potential damages from the bankruptcy of its operating unit, Reuters News reported.
2 min read · 17 March 2016
Former Paulson & Co partner Dan Kamensky has secured backing from a Bain Capital co-founder and others for his new hedge fund, and plans to hire a former top marketer at King Street Capital Management to sell it, Reuters News is reporting.
2 min read · 17 March 2016
Industrial gas producer Air Products and Chemicals Inc (APD.N) is in advanced talks to sell its performance materials operations to Germany's Evonik Industries AG (EVKn.DE), a source familiar with the matter told Reuters.
2 min read · 17 March 2016
British private equity firm Terra Firma has rejected bids from a Chinese company for leasing group AWAS worth up to US$2.2 billion in the latest evidence of attempted deal-making in the aircraft financing business, sources told Reuters. China's HNA Group made two offers for the group, the sources said. Terra Firma and Canada Pension Plan Investment Board (CPPIB) invested in Dublin-based AWAS in 2006. The deal gave CPPIB a 25 percent stake in the company.
3 min read · 16 March 2016
Ottawa-based Mitel Networks Corp is in talks to merge with U.S. peer Polycom Inc, in a deal that would combine the voice and telephony equipment providers and heed the demands of U.S. hedge fund Elliott Management Corp, sources told Reuters. Elliott has been calling for the two companies to merge since October, when the US$23 billion fund disclosed a 6.6 percent stake in Polycom and a 9.6 percent stake in Mitel.
2 min read · 16 March 2016
U.S. energy companies facing a likely cut in their bank loans are seeking a costly alternative - borrowing from private equity firms at hefty interest rates to stay alive for longer, Reuters News reported.
4 min read · 16 March 2016
Caesars Entertainment Corp (CZR.O) and its private equity backers could be on the hook for up to $5.1 billion in potential damages over a series of corporate deals that a court-ordered examiner said Tuesday led to a $18 billion bankruptcy protection filing by the casino company's operating unit, Reuters News reported.
3 min read · 16 March 2016
Deutsche Boerse AG (DB1Gn.DE) and London Stock Exchange Group Plc (LSE) (LSE.L) agreed to combine in a $30 billion deal to create a European trading powerhouse better able to compete with U.S. rivals encroaching on their turf, Reuters News reported.
3 min read · 16 March 2016
Australia's Asciano Ltd has agreed to a A$9.1 billion (US$6.8 billion) buyout by two consortia after a seven-month bidding war for the port and rail giant, Reuters reported. Asciano said it supported a joint bid from local rival Qube Holdings Ltd, Canada's Brookfield Asset Management and a host of backers from China to Qatar. Canadian Pension Plan Investment Board is among the investors that will get Asciano's railways business.
2 min read · 15 March 2016
