Providence Equity Partners related stories
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- Slideshow: Add-Ons Boost PE-Backed M&A. Here's The Top 5 Deals, Including Kinder Morgan--CORRECTED
Market volatility may have slowed down M&A but there still are some bright spots. So far in 2011 there have been 503 U.S. announced mergers that are private equity backed. These deals are valued at$77.5 billion, which compares to the 632 deals for all of 2010 that totaled $69.34 billion, Dealogic says. Transaction values, according to the data, are up 12%. However, these totals don't include the mammoth Kinder Morgan deal. Kinder Morgan agreed to buy El Paso Corp. /122462/kinder-morgan-to-buy-el-paso-for-21-billion-in-big-bet-on-natural-gas-market/ for about $38 billion, including debt, earlier this month. CORRECTED: The Carlyle Group, and Goldman Sachs Inc.’s buyout arm, Highstar Capital, along with Riverstone Holdings, bought Kinder Morgan in 2007 /122462/kinder-morgan-to-buy-el-paso-for-21-billion-in-big-bet-on-natural-gas-market/ Kinder Morgan went public earlier this year but the PE firms still hold stakes.
- Providence Equity Partners Backs OpenSky.com
Providence Equity Partners has led a $30 million round for online shopping company OpenSky.com. Existing investors Highland Capital Partners, Canaan Partners and The Raine Group also participated in the round. OpenSky allows users to tailor their own recommendations by choosing various “experts” in food, style, health and design.
- No Cross Talk Provision Irks Yahoo Bidders
Potential buyers of Yahoo Inc are balking at the Internet company's demands for confidentiality that would prevent them from discussing joint bids, Reuters wrote.
- Hulu Owners Bail on Deal Process
As sale and IPO processes continue to wither in the face of turbulent markets, the owners of Hulu, the streaming entertainment company, announced late Thursday they would not, in fact, pursue a sale of the company. News Corp., Providence Equity Partners, and the Walt Disney Co. are among Hulu’s owners. Previously, it was reported that strategic bidders had failed to satisfy sellers’ requirements.