Silver Lake, Michael Dell's partner in the $24.4 billion buyout bid for Dell Inc., could receive a $180 million break-up fee if a higher accepted bid comes from a rival such as Blackstone Group LP and billionaire investor Carl Icahn, Reuters reports.
4 min read · 17 April 2013
(Reuters) - Private equity mogul Stephen Feinberg is exploring a bid for Freedom Group, the Bushmaster rifle manufacturer that his firm, Cerberus Capital Management LP, put up for sale after one of its guns was used in a Connecticut school shooting late last year, three people familiar with the situation said on Tuesday.
2 min read · 17 April 2013
Billionaire investor Carl Icahn has agreed to limit his investment in Dell Inc and in return can team up with other shareholders on a potential bid for the personal computer maker, Dell said on Tuesday.
2 min read · 16 April 2013
U.S. securities regulators on Monday charged a Denver businessman with reaping "substantial" profits using inside information from the former chief executive of Delta Petroleum Corp about an impending investment in the company, Reuters reported. Scott Reiman, founder and president of investment firm Hexagon Inc, agreed to pay nearly $900,000 to settle the civil case brought by the Securities and Exchange Commission, the agency said. The case against Reiman comes five months after the SEC charged Delta's former chief executive, Roger Parker, with leaking the news that Beverly Hills-based private investment firm Tracinda Corp had agreed to buy a 35 percent stake in Delta for $684 million.
2 min read · 16 April 2013
Investment firm Vintage Capital Group LLC offered to buy Anaren Inc for $23 per share in a deal that values the telecommunication components maker at about $300 million. The offer represents a premium of 17 percent to Anaren's Monday close of $19.61 on the Nasdaq. Anaren shares rose 10 percent in extended trading. Vintage Capital holds 12.8 percent in East Syracuse, New York-based Anaren.
1 min read · 16 April 2013
Texas power company Energy Future Holdings, formerly known as TXU Corp, has proposed a prepackaged bankruptcy that would restructure $32 billion of debt, but no deal has been reached, writes Reuters. The company is trying to restructure more than $30 billion in debt it was saddled with after the buyout by a consortium including KKR & Co, TPG Capital Management and Goldman Sachs Group Inc's private equity arm, writes Reuters.
3 min read · 16 April 2013
Struggling Chinese solar panel maker Suntech Power Holdings could offload its solar power generation assets in Italy, writes Reuters. The former green tech poster child, with a New York Stock Exchange listing and a market value of $16 billion at its peak, last month defaulted on $541 million of its dollar-denominated bonds and said its biggest subsidiary was bankrupt, writes Reuters.
4 min read · 16 April 2013
Japan's Panasonic Corp has hired Bank of America Merrill Lynch to sell a part of its healthcare unit in a deal that could raise as much as $1 billion writes Reuters. Merrill Lynch will begin providing information on the sale to potential bidders by May, including private equity funds Bain Capital and Carlyle Group, writes Reuters.
2 min read · 16 April 2013
(Reuters) - Bain Capital LLC is close to securing commitments from investors for about half the $6 billion target for its latest private equity fund, two people familiar with the matter said on Monday.
4 min read · 16 April 2013
(Reuters) - Brazilian private equity funds are pushing ahead with a plan to win investment commitments from insurers and pension funds that are seeking higher returns on over 1.1 trillion reais (about $550 billion) of money under management.
2 min read · 16 April 2013
