Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Brazilian beef processor JBS has made a verbal buyout offer for Sara Lee Corp. and is expected to submit a written proposal in the coming day, two sources familiar with the situation said.
JBS made its verbal overture on Monday evening, the sources said. The terms of the offer were not immediately available. Get the full story »
A Moen Single Handle Bath Faucet at a Home Depot in New York, July 27, 2007. Fortune Brands Inc. is the holding company for Moen faucets, among other products. (Andrew Burton/Bloomberg News)
Several major private equity firms are considering buying Fortune Brands’ home products unit after the company announced plans to spin off the $3 billion division, five people familiar with the matter said.
Some of the large buyout firms, including Blackstone Group and Bain Capital, are studying the potential of either making offers for the entire unit or acquiring a stake in the business as part of the planned spin-off, the people said.
Such considerations are at a preliminary stage and it is unclear if Fortune would be interested in selling to buyout firms, which would incur heavy taxes, as opposed to a tax-free spinoff, the people said. Get the full story »
Tishman Speyer Properties’ purchase of a new Chicago office tower is the latest sign that the firm is going back to the basics as it emerges from one of the most devastating commercial real-estate cycles in decades.
Its purchase of 353 N. Clark St. for $385 million, an estimated $55 million less than it cost to build, also exposes the fault lines as well as the opportunities for investors and owners as the market recovers. Get the full story »
Hilton workers protest in front of thee Hilton Hotel on Michigan Avenue in Chicago Saturday. (Tribune / Abel Uribe)
A strike by hundreds of Hilton Chicago Hotel workers who are working without a contract entered its third and presumably last day today. The three-day strike began Saturday in connection with the workers’ inability to negotiate an agreement at the same time they assert the hotel received a sweetheart deal from the federal government. Get the full story>>
AOL Inc. and several private equity firms are exploring the possibility of buying Yahoo Inc., according to people familiar with the matter.
Shares of Yahoo jumped more than 9 percent on Thursday on the news, fueled by the prospect that the Internet company could be the target of a buyout by private equity firms, possibly in conjunction with another media company like AOL or News Corp. Get the full story »
U.S. private-equity kingpins are likely to be hit with a second giant tax increase next year, the New York Post reported Thursday.
It looks like the bosses will have to dig deeper because a key ally on Capitol Hill — a lawmaker who has blocked three attempts to raise the income tax paid by buyout firms — was set to favor the so-called Enterprise Value Tax. It would more than double the tax bite when moguls cash out of their private equity firms, several sources told the Post. Get the full story »
General Growth Properties Inc. says asset manager Blackstone Group has agreed to invest about $500 million for shares in the shopping mall operator once it emerges from Chapter 11 bankruptcy protection.
General Growth disclosed the agreement in a regulatory filing on Wednesday detailing the company’s latest plan to exit bankruptcy. Get the full story »
Private equity firm Blackstone Group Friday struck a deal to buy power producer Dynegy Inc. for $543 million in cash and sell some of the company’s best assets to NRG Energy in the latest shake-up in the electric industry.
The deal values Dynegy at $4.7 billion including debt, which would make it one of the biggest buyouts of a power company since Kohlberg Kravis Roberts, TPG Capital and Goldman Sachs bought TXU for $32 billion in 2007. Get the full story »
