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Tag >> mergers and acquisitions
Aug 27
2010

HP, Dell throttle up in 3Par chase

Posted by dbedell in SAPmergers and acquisitions, M&A;, HPGoogleDellDeals

dbedell

HP and Dell on Friday continued their battle royale for 3Par, the data management and cloud computing firm. The deal is the latest in a long string of transactions this summer by big tech firms in their efforts to become even bigger—and move into territory now held by their competitors.

The battle has been raging since the start of last week, when Dell first put in an offer at $18 a share for all outstanding shares of the data storage firm. 3Par accepted. HP came in to the foray this past Monday—offering $24 a share. Dell sneaked in a bid at $24.30 Thursday morning this week, and HP came back that afternoon with a $27 offer.

Aug 26
2010

Leveraged loan market continues to grow

Posted by dbedell in mergers and acquisitions, M&A;, leveraged loan, leveraged finance, LBO, Deals

dbedell

There are a number of leveraged loan deals in the works this month, and more in the pipeline for September. Companies that are shopping for acquisitions, and a number of private equity houses with LBOs in the works, are turning to the leveraged market for funding, and the market looks set to continue growing as autumn approaches.

Bankers will soon market a $1.5 billion term loan for the buyout of New York nutritional supplements maker NBTY by The Carlyle Group. Bank of America Merrill Lynch, Barclays and Credit Suisse are the arrangers, and price talk is at 400 basis points over Libor.

Aug 17
2010

Fertilizer companies on top of the M&A; heap

Posted by dbedell in mergers and acquisitions, M&A;, fertilizerDealscommoditiesCash

dbedell

Canadian fertilizer company PotashCorp has rejected a $38.49 billion bid from BHP Billiton, of Australia, to purchase the company. The fertilizer market worldwide has been a hotbed of M&A activity for the past few months and BHP Billiton’s bid for PotashCorp of Saskatchewan is just the latest in a line of deals that have been making the headlines.

On Tuesday PotashCorp said that its board had rejected the offer from BHP—saying that it undervalued the company. At $130 a share, the bid put a 16 percent premium on the company’s Monday closing share price. On news of the offer, the Canadian firm’s shares soared to $145.

Jul 13
2010

VC fundraising at seven-year low

Posted by mcole in venture capitalTaxmergers and acquisitionsIPODealsCash

mcole

Venture capital fundraising in the US is at the lowest level in seven years and the likelihood that it will significantly increase in the next few years is slim.

Thirty eight US venture capital funds raised $1.9 billion in the second quarter of 2010, the worst three-month period since the third quarter of 2003, according to Thomson Reuters and the National Venture Capital Association.

Jul 12
2010

Aon bucks the trend toward corporate passivity

Posted by mcole in mergers and acquisitions, insurance, human resourcesdebtDealsCreditconsulting

mcole

Not every company is sitting on its hands until the economy improves. Insurance giant Aon is taking on a significant amount of short-term debt to acquire Hewitt Consulting for $4.9 billion and spend on its brand to exploit new opportunities.

The Hewitt deal will help Aon get a firm foothold in human resources and benefits outsourcing, significantly increasing Aon's market share in this area and positioning the company to take on rival insurance broker and consulting big Marsh and McLennan. The move also gives Aon a more balanced mix of insurance brokerage and consulting revenue.

Jul 07
2010

China simplifies investment for foreign funds

Posted by mcole in private equity, mergers and acquisitionsdue diligenceDealsChina

mcole

Last month, China's macroeconomic planning agency, the National Development and Reform Commission, said it was working on eliminating filing requirements for managers of small private equity funds.

It would facilitate investment for funds with less than C¥500 million ($73.8 million), including US funds, and potentially boost expansion of US portfolio companies into China.

Jul 01
2010

Some signs of life in venture capital

Posted by Stephen Taub in venture capitalmergers and acquisitionsIPODow Jones VentureSourceDeals

Stephen Taub

The venture capital business is trying to battle back, but with mixed success.

On one hand, during the second quarter, 15 IPOs by venture-backed companies raised $899 million, up from just three offerings which raised $232 million in the same period last year, according to Dow Jones VentureSource.

Jun 22
2010

Smaller deals for private equity

Posted by dbedell in spin-off, private equity, mergers and acquisitionsmanagement buyoutDealsCash

dbedell

Although many private equity firms are still in sell-off mode—as Marine Cole reported last week —those firms that are buying are doing smaller deals, which could be good news for the many companies looking to shed non-core assets as consolidation continues.

Of the deals being done, US private equity group TPG is the most recent, announcing last Friday that it would purchase UK fashion retailer Republic for £300 million ($445 million). The deal will be financed entirely through equity.

Jun 14
2010

Private equity selling off assets

Posted by mcole in private equity, mergers and acquisitionsIPODeals

mcole

The $1.3 billion acquisition of Bresnan Communications by Cablevision Monday is the latest instance of a private equity firm unloading a portfolio company, illustrating the rebound in PE activity over last year, especially with PE firms on the sellside of transactions.

It follows the $4 billion acquisition last week of Talecris Biotherapeutics, a portfolio company of Cerberus Capital Management, by Barcelona-based Grifols.

Jun 14
2010

LatAm eyes US acquisitions

Posted by dbedell in Mexicomergers and acquisitions, M&A;, Latin America, DealsCashBrazil

dbedell

A number of Latin American companies have been eyeing the US for acquisitions--with some big deals already completed and numerous companies looking to make use of their big balance sheets to buy US assets.

With restructuring and consolidation still the name of the game for many US firms, this could be positive news for US companies looking for buyers of their non-core assets.

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