Midweek M&A Madness
Now that the weather has finally warmed up, plenty of M&A bankers are hoping the market for deals will as well. We’ve noticed a few more targets coming to market in recent weeks and have compiled a list of some of those we’ve come across. Our sources are various news reports and the Buyouts “Seeking Buyers” list. The following companies (among many others) are either formally considering “strategic alternatives,” reported to be on the block or are rumored to be in sales talks. For prior lists, see below, and send any additions my way. Coinmach Services Corp., backed by Babcock & Brown, may end up undergoing a debt-for-equity swap with its underwriters due to its heavy debt load, Debtwire reports. Aetna Inc has hired Bank of America and Credit Suisse Group to help it sell its pharmacy-benefit management business, Reuters reported. ... Friends, Britain's sixth-biggest life insurer by market value, also said it had rejected as "wholly inadequate" a new takeover proposal from Resolution, Reuters reported.
