Blackstone Group LP has emerged as the frontrunner in an auction for Allscripts Healthcare Solutions Inc, but the companies remain far apart on price and a deal is highly uncertain, people familiar with the matter said.
3 min read · 30 November 2012
ProSiebenSat.1 is expecting two bids for its Nordic TV channels, valued at more than 1 billion euros ($1.3 billion), Reuters reported, citing five people familiar with the situation said. Rival TV group Discovery Communications and private equity group Providence Equity Partners are expected to table bids for ProSieben's Scandinavian assets, including Sweden's Kanal 9, Norway's TV Norge, and Kanal 4 in Denmark, the people said.
1 min read · 30 November 2012
Chinese state-owned insurer PICC Group raised $3.1 billion in Hong Kong's biggest initial public offering in two years after pricing the deal near the bottom of an indicative range, the latest sign of a tepid appetite for new listings in much of Asia, Reuters reported Friday. PICC secured commitments from cornerstone investors for about $1.8 billion worth of stock offered in the IPO, easing concerns it may not find enough demand for the deal. Major investors included U.S. insurer American International Group , China utility State Grid Corp, China's leading gold miner Zijin Mining Group and China Life Insurance.
3 min read · 30 November 2012
Supervalu shares slumped more than 18 percent on Thursday after a report that Cerberus Capital Management was having difficulty obtaining financing to buy out the troubled grocery chain, Reuters wrote. Bloomberg reported that potential lenders were concerned about Supervalu's ability to manage its debt load. Reuters reported last month that buyout firm Cerberus was preparing a takeover bid for Supervalu, the third-largest U.S. supermarket chain.
1 min read · 30 November 2012
Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd, is set to raise up to $825 million next month in what would be the country's biggest initial share offering in two years, Reuters reported. Bharti Infratel, which will sell shares at a discount to global peers, is one of several Indian firms due to sell shares by the end of the year, tapping a revival in investors' appetite for risk after a slack first half.
3 min read · 30 November 2012
Oaktree Capital Management-backed Fusheng Industrial has acquired German air compressor maker ALMiG Kompressoren GmbH, Fusheng and ALMiG said on Friday. The two firms did not disclose the terms of the deal. Global investment management firm Oaktree, teamed up with the founding Lee family to take Fusheng private in 2007, for a reported deal value of around $850 million.
1 min read · 30 November 2012
U.S. daily deals online firm Living Social Inc is expected to announce on Thursday it is cutting 400 jobs, representing 9 percent of its workforce, as demand for daily deals and emailed daily discounts dries up, the Wall Street Journal reported, citing a source familiar with the plans.
1 min read · 29 November 2012
Private equity firm Advent International said it would not increase its 1.5 billion euro ($1.9 billion) offer for German retailer Douglas, even though it is a way from gaining enough shares. A regulatory filing showed shareholders representing 55.07 percent of Douglas' stock had accepted the offer. Advent, which has teamed up with the Douglas founding family for the bid, needs to cross the 75 percent threshold for the offer to succeed.
1 min read · 29 November 2012
An auction of Advance Auto Parts Inc. failed to attract bids that met its price expectations, making it unlikely the auto parts retailer would proceed with plans to sell itself, Reuters reported Thursday. The company ran a limited auction process that attracted interest from buyout firms including Carlyle Group LP, Leonard Green & Partners LP, KKR & Co LP and Clayton Dubilier & Rice LLC, sources told Reuters.
1 min read · 29 November 2012
U.S. billionaire John Malone's cable group Liberty Global said it had not made an offer to purchase Brazilian broadband specialist GVT from France's Vivendi. Earlier, a source had told Reuters that Liberty was one of four bidders for GVT, an alternative provider of fixed telephone, broadband and TV services in 120 Brazilian cities.
1 min read · 29 November 2012
