Umpqua Holdings Corp has agreed to buy private-equity backed Sterling Financial Corp in a $2 billion cash-and-stock deal, Reuters reported.
1 min read · 12 September 2013
Hotel operator Hilton Worldwide Inc, backed by Blackstone Group LP, filed for an initial public offering of up to $1.25 billion, Reuters reported.
1 min read · 12 September 2013
Private equity investor 3i has offered to buy the shares in Scandlines it does not already own, after an attempt to find a buyer for the ferry group failed earlier this summer, writes Reuters. 3i's bid for the 50 percent stake held by co-owner Allianz Capital Partners (ACP) values Scandlines at more than the 1.3 billion euros ($1.7 billion) that buyout group TPG offered for the whole company, writes Reuters.
2 min read · 12 September 2013
British greetings card retailer Card Factory is seeking to raise 165 million pounds ($259.41 million) to pay a dividend to private equity owner Charterhouse instead of a stock market flotation or sale, writes Reuters. Charterhouse acquired Card Factory in 2010 backed with 185 million pounds of leveraged loans, writes Reuters.
2 min read · 12 September 2013
Computer maker Dell Inc set indicative pricing on the new $5.5 billion loan backing the company's approximately $25 billion buyout by founder and CEO Michael Dell and private equity firm Silver Lake Partners, sources told Thomson Reuters. The new deal will include a $1.5 billion, five-year term loan C and a $4 billion, 6.5-year term loan B. The term loans are expected to be covenant-lite, writes Reuters.
3 min read · 12 September 2013
Life sciences-focused software company Veeva Systems filed with US regulators to raise up to $150 million in an initial public offering of its common stock, writes Reuters. Veeva, which competes with Oracle Corp, provides web-based software for pharmaceutical company sales representatives that allows them to track drug information and to provide documentation and data to their sales forces, writes Reuters.
2 min read · 12 September 2013
Chances are growing slim for Texas utility Energy Future Holdings to negotiate a prepackaged bankruptcy with its creditors that would avoid a lengthy spell in Chapter 11, writes Reuters. The embattled company has been in talks for months with secured lenders, which hold about $20 billion in debt, writes Reuters.
3 min read · 12 September 2013
British rail ticket retailer and information provider thetrainline.com has raised a 190 million pound ($298.69 million) loan to refinance existing debt and pay a dividend to its private equity owner Exponent, banking sources told Reuters.
2 min read · 11 September 2013
Anchorage Capital Partners is exploring a potential IPO for Australian retailer Dick Smith Electronics and has appointed Goldman Sachs and Macquarie Group to advise it on a listing and other strategic options, Reuters reported.
1 min read · 11 September 2013
Britain's Tesco is to lend U.S. billionaire Ron Burkle's Yucaipa investment company 80 million pounds ($126 million) to take the loss-making Fresh & Easy stores off its hands, marking the end of a six-year attempt to crack the U.S. market, Reuters reported.
2 min read · 11 September 2013
