Roche Holding AG and a buyout group comprising KKR & Co LP and Hellman & Friedman LLC have joined the bidding for Life Technologies Corp, a genetic testing company coveted for its advanced diagnostics and steady cash flow, writes Reuters. Roche's interest in Life Tech, a biomedical laboratory equipment maker with an $11 billion market value, signals the Swiss drugmaker's continued interest in gene sequencing a year after its $6.8 billion hostile offer for Illumina Inc failed over price.
3 min read · 20 March 2013
Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc, writes Reuters. Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess's snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.
2 min read · 20 March 2013
Liberty Media Corp said on Tuesday it will buy a 27.3 percent stake in cable television operator Charter Communications Inc for about $2.62 billion.
3 min read · 19 March 2013
Bahrain-based private equity firm Investcorp's sale of Armacell is under threat as bids for the German insulation firm are due to come in lower than its 500 million euro ($653.30 million) price tag, writes Reuters. The transaction could now be scrapped altogether, writes Reuters.
2 min read · 19 March 2013
The National Football League and Providence Equity Partners have formed a strategic partnership to focus on investing in sports- and entertainment-related media assets, writes Reuters. The NFL and the New York-based private equity firm said they will commit equity and jointly operate the global strategic partnership. Terms of the commitments were not public.
1 min read · 19 March 2013
Top Office Depot shareholder Starboard Value LP nominated six candidates for the retailer's board on Monday, saying it must be "significantly reconstituted now" whether or not the office supply chain merges with rival OfficeMax, Reuters reported. Starboard's slate includes Robert Nardelli, the former Home Depot and Chrysler chief, as well a number of other retail chief executives and directors. The New York-based investment adviser said Office Depot should either engage with it immediately, or alternatively, schedule its annual shareholder meeting for a date prior to the potential closing of the OfficeMax deal.
3 min read · 18 March 2013
A federal grand jury has indicted former California Public Employees' Retirement System Chief Executive Officer Federico Buenrostro on conspiracy charges in connection with a scheme to commit fraud, the U.S. Department of Justice said on Monday. The grand jury also indicted Alfred Villalobos, a former member of the pension fund's board, in connection with the scheme involving fraudulent documents related to a $3 billion investment of the retirement system in funds managed by Apollo Global Management. The U.S. Securities and Exchange Commission last year charged the two men with scheming to defraud Apollo.
1 min read · 18 March 2013
Grenada's St. George's University, which came to prominence in 1983 when U.S. President Ronald Reagan sent in troops to evacuate American students following a military coup, is up for sale, Reuters reported Monday. The university is speaking to private equity firms about a deal and is hoping to fetch more than $1 billion, Reuters wrote.
2 min read · 18 March 2013
British estate agent Countrywide Holdings has narrowed the price range for its London listing to 330-350 pence per share, Reuters reported on Monday. Countrywide, which plans to raise 200 million pounds ($302.6 million) from the sale of new shares to repay debt and grow the business, had initially offered the shares at 260-350 pence each.
1 min read · 18 March 2013
The private equity arm of French insurance giant AXA has raised 1.75 billion euros ($2.3 billion) for investments in European infrastructure. The AXA Infrastructure Fund III, the group's largest to date, closed with 1.45 billion euros while investors committed a further 300 million euros for investments outside the fund.
2 min read · 18 March 2013
