Bank of America related stories
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Vornado bows to Blackstone EOP victoryFollowing the exit of Vornado Realty Trust from the bidding, Equity Office’s shareholders have given the green light to the largest private equity deal to date by approving Blackstone’s offer of $39bn. The deal includes a Blackstone equity cheque of $3.75bn.
- Sallie Mae shareholders back buyout
The shareholders of Sallie Mae, a US student loan company that accepted a buyout bid from a consortium led by JC Flowers in April, have voted in favour of the $25 billion deal – despite concerns that government cuts could cause the buyers to drop their offer.
- JC Flowers LPs could pay $192m for Sallie Mae breakup
JC Flowers reportedly sent a letter to its limited partners today telling them they may have to pay $192 million in breakup fees to Sallie Mae.
- Falfurrias buys Bojangles
Fresh from its first fund close, North Carolina-based Falfurrias Capital has bought chicken-n-biscuits chain Bojangles.
- Sallie Mae rejects lower bid
Sallie Mae has rejected a revised bid from the JC Flowers-led consortium that would have cut the value of the $25 billion buyout by up to $4 billion.
- HarbourVest mulls FoF float on Euronext
HarbourVest Partners may list on the Euronext a fund of funds vehicle that would invest in the US firm's existing funds.
- BofA names head of private equity division(3)
Subsequent to its acquisition of wealth management firm US Trust, Bank of America has chosen James Bowden, previously head of its fund-of-funds business, to lead its newly enhanced private equity division.
- BofA names head of private equity division(2)
Subsequent to its acquisition of wealth management firm US Trust, Bank of America has chosen James Bowden, previously head of its fund-of-funds business, to lead its newly enhanced private equity division.
- Consortium to drop $25bn Sallie Mae deal
A JC Flowers-led consortium has said it will likely drop its $25 billion bid for Sallie Mae, but is willing to renogotiate the deal, taking into consideration a changed economic and legislative environment.
- Bain in $1.8bn kitchen and bath deal(3)
Bain’s portfolio of household-name retail brands is poised for growth with a $1.8 billion agreement to acquire American Standard’s kitchen and bath division.