Cerberus Capital Management related stories
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M&A off to slow start, but activity picking up - Quarterly DealsFacing upward pricing pressure just as regulators tapped the brakes on leverage levels, U.S. sponsors closed fewer acquisitions in the first quarter of 2015.
Sponsors take breather as number of M&A exits, IPOs slows - Quarterly ExitsSponsors exited companies via M&A at a far slower pace in the first quarter than they did at year-end, although total disclosed deal value remained strong, suggesting they were able to take advantage of rising deal prices.
California Treasurer turns up heat on Cerberus, urges CalSTRS divestment from gunmakerCalifornia’s state treasurer sent a stern letter to the state’s teachers’ pension fund on Wednesday, asking that the fund’s managing partner, Cerberus Capital Management, fully divest from the assault weapon manufacturer, Freedom Group, Reuters reported.
California Treasurer urges CalSTRS divestment from assault weapon manufacturer-ReutersCalifornia's state treasurer sent a stern letter to the state's teachers' pension fund on Wednesday, asking that the fund's managing partner, Cerberus Capital Management, fully divest from the assault weapon manufacturer, Freedom Group, Reuters reported.
Salus Capital complaint urges cap on credit bid for RadioShack-ReutersSalus Capital LLC filed an adversary complaint on Wednesday in RadioShack Corp's Chapter 11 bankruptcy that seeks to hold credit bidding in the electronic retailer's upcoming auction to $111 million, Reuters reported.
Concordia to raise $320 mln to fund buy of PE-backed Covis PharmaConcordia Healthcare Corp (TSX: CXR) has entered into an agreement with underwriters to raise gross proceeds of up to $368 million through a bought deal financing. The transaction is intended to partially fund the company's proposed purchase of assets /canada/2015/03/09/concordia-healthcare-to-buy-assets-of-pe-backed-covis-pharma-for-1-2-bln-reuters/ held by Switzerland's Covis Pharma Holdings SARL. Earlier this month, Concordia, a Canadian healthcare company focused on legacy pharmaceutical products and orphan drugs, agreed to buy the assets from Covis, which is controlled by U.S. private equity firm Cerberus Capital Management and other investors. The acquisition is valued at US$1.2 billion.
Cerberus, Solus offer restructuring plan for bankrupt LightSquaredCerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared’s largest lender, Reuters reported.
Concordia Healthcare to buy assets of PE-backed Covis Pharma for $1.2 bln: ReutersCanada's Concordia Healthcare Corp, which makes drugs for rare diseases and devices for diabetic patients, said it would buy some Swiss assets of Covis Pharma Holdings SARL for US$1.2 billion in cash, Reuters reported. Covis is controlled by affiliates of Cerberus Capital Management, Princeton Biopharma Capital Partners and Bourne Partners.
- Cerberus to play active role in European bank consolidation -- Reuters
U.S. investor Cerberus Capital Management will play an active role in European banking consolidation, it said on Thursday, sending the strongest signal yet it could soon exit its majority stake in Austrian lender BAWAG PSK, Reuters News reported.
- Hennessy Capital closes Blue Bird buy
Hennessy Capital Acquisition Corp. said Tuesday it closed its buy of School Bus Holdings, which conducts its business under the “Blue Bird” name. The Traxis Group BV, which is majority owned by Cerberus Capital Management, is the seller. The deal is valued at $255 million, a September statement from Schulte Roth & Zabel said. Cerberus will continue to own 58 percent of Blue Bird’s outstanding shares. Blue Bird designs and makes school buses. Schulte Roth & Zabel provided legal advice to Cerberus, Traxis Group and Blue Bird.