Inside these posts: Buyout

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Local private equity firms raise funds, invest

It has been a busy day for a couple of Chicago private equity firms.

Chicago-based buyout firm Waud Capital has closed its third fund, receiving $463 million in commitments from new and existing investors. Its initial goal was $350 million. Get the full story »

CNA Surety rejects buyout offer

CNA Surety Corp. said Friday that it has rejected a $375 million buyout offer by its majority owner, CNA Financial Corp. A special committee of CNA Surety’s board said the $22-per-share bid by CNA Financial Corp. “substantially undervalues” the company, but the committee said it was open to more discussions with CNA Financial. Get the full story »

Sara Lee credit default swaps up on possible bid

From Bloomberg News | Credit-default swaps on Sara Lee Corp. climbed to a record following a report that buyout firm Apollo Global Management LLC teamed up with investor C. Dean Metropoulos to consider a bid for the company.

Shareholder sues to block J. Crew buyout

Bloomberg News | A J. Crew shareholder has sued the retailer and TPG Capital over a $3 billion plan to take the clothier private.

BHP CEO fails to win premier’s support on Potash

BHP Billiton CEO Marius Kloppers visited the home city of Potash Corp. on Monday but failed to win the support of the provincial premier for its $39 billion offer to take over the world’s largest fertilizer supplier.

Saskatchewan Premier Brad Wall said he still has concerns about BHP’s proposal after meeting with Kloppers, who sought to bolster the chances that Canada would approve the bid by winning the province’s support. Get the full story »

Blackstone buys Dynegy, sells its natural gas assets

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 »

Nokia reportedly looking at Motorola telecom

Nokia Siemens Networks is in talks to buy the telecom-equipment arm of Motorola Inc., people familiar with the matter said, a deal that would hasten the dismantling of the U.S. technology company.

The two companies are discussing terms, and a deal could be worth $1.1 billion to $1.3 billion, one of the people said. A deal could be reached in the next few weeks, people familiar with the matter said, though talks could still fall apart. A Motorola spokeswoman declined to comment. Get the full story »