Dell Inc founder Michael Dell on Wednesday raised his $24.4 billion bid by $150 million but the sweetened offer is contingent on a key change to the shareholder voting rules that will make it easier for him to take the No.3 personal computer maker private, Reuters reported.
3 min read · 24 July 2013
Buyout firms have a record level of expiring funds this year, raising the prospect that many will have to ask investors for more time to do deals or not use the money at all, Reuters reports.
4 min read · 24 July 2013
KKR & Co LP on Tuesday secured the cheapest borrowing rates it ever got to fund a leveraged buyout, which could cut hundreds of millions of dollars from interest it will pay to finance its $3.9 billion takeover of Gardner Denver Inc , banking sources told Reuters.
3 min read · 24 July 2013
UK Asset Resolution (UKAR), Britain's 'bad bank', has agreed to sell a portfolio of former Northern Rock loans to U.S. private equity firm J.C. Flowers and debt recovery business Marlin Financial for a combined 400 million pounds ($615 million), Reuters reported.
1 min read · 24 July 2013
Sanofi SA's India unit and Carlyle Group are in separate talks to buy the domestic drug formulations business of India's Elder Pharmaceuticals Ltd for $400 million-$450 million, sources told Reuters.
1 min read · 24 July 2013
Dell Inc shareholders converge on Texas on Wednesday to vote on CEO Michael Dell's $24.4 billion buyout offer for the company after a previous meeting was pushed back a week in the hope of convincing dubious investors to accept the deal, Reuters reported.
3 min read · 24 July 2013
KKR said on Tuesday that William Sonneborn, who heads its corporate credit and equity investments and is chief executive of its publicly traded specialty finance company KFN, would step down to pursue a new challenge, writes Reuters. KKR expressed disappointment with Sonneborn's decision but praised his contribution to the firm. A spokeswoman did not elaborate on the 43-year-old executive's new challenge but said he would serve as a senior adviser to the firm, writes Reuters.
3 min read · 24 July 2013
Mexican telecoms firm Maxcom has filed for pre-packaged Chapter 11 bankruptcy in a US court, writes Reuters. The company is also pursuing a recapitalization plan that would give full control to an investor group led by private equity firm Ventura Capital, writes Reuters.
2 min read · 24 July 2013
The sale of Austrian refrigeration manufacturer AHT Cooling, owned by Quadriga Capital, has attracted interest from a clutch of bidders, with private equity firms Bridgepoint and EQT having made it through to the second round, Reuters reported.
2 min read · 23 July 2013
Apparel company Fifth & Pacific Cos Inc is in late-stage talks to sell its denim business Lucky Brand to private equity firm Advent International, sources told Reuters.
1 min read · 23 July 2013
