Inside these posts: Leveraged buyout

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Sara Lee buyout could pave way for JBS deal

A leveraged buyout of Sara Lee could pave the way for Brazilian beef processor JBS SA to buy the U.S. company’s meat division, analysts at Bank of America Merrill Lynch said in a report Thursday. Get the full story »

Judge gives creditors right to sue Zell, others

A bankruptcy judge on Friday granted Tribune Co.’s  official committee of unsecured creditors authority to make the opening moves in long-threatened litigation over the 2007 leveraged buyout blamed for the media company’s tumble into Chapter 11.

Judge Kevin Carey said he would sign off on an order acknowledging the official committee is the proper body to bring claims against lenders, executives and other leaders of the embattled media company, as well as advisers who reaped millions in fees from the LBO. Get the full story »

Apollo approached Sara Lee about buyout

Private equity firm Apollo Global Management approached food company Sara Lee about six weeks with regards to a deal, a source familiar with the matter said on Monday.

It was unclear if anything will come of that approach.

A deal would likely to have been struck in conjunction with investor C. Dean Metropoulos, a Connecticut entrepreneur known for reinvigorating food brands, who is an operating partner of Apollo, the source said. Get the full story »

Judge names mediator in Tribune Co. bankruptcy

The judge in Tribune Co.’s stalemated bankruptcy case appointed a mediator Wednesday to try to forge a settlement of legal claims stemming from media company’s disastrous 2007 leveraged buyout.

The move comes after a reorganization plan previously filed by Tribune Co. management unraveled in the wake of an independent examiner’s report that supported many of the claims. Get the full story »

Tribune Co. bankruptcy settlement breaks down

The settlement at the heart of Tribune Co.’s proposed reorganization plan has fallen apart, casting doubt on whether the Chicago-based media conglomerate can continue to control its own fate in bankruptcy court.

At a status hearing in Delaware Friday, Tribune Co. lead attorney James Conlan of Sidley Austin said the company planned to file unilateral amendments to its plan by next Friday and threatened to cast the case into extended litigation if the warring parties can’t come to an agreement.

“The debtor has tried mightily to bring the parties together,” Conlan said. “That hasn’t happened.” Get the full story »

Zell seeks to be repaid before others in Tribune bankruptcy

Sam Zell, who took Tribune Co. private in a 2007 leveraged buyout,  says he wants his claims in the media company’s bankruptcy to be paid before those of any lower-priority creditors. Zell put $315 million of his own money into the $8 billion deal. The company filed for Chapter 11 last year.

Demands by the lower-priority creditors have gotten louder since a bankruptcy examiner’s report last week raised questions about the LBO.

LBO issues to be part of Tribune Ch. 11 hearing

The judge in the Tribune Co.’s bankruptcy said Wednesday that there’s no way to avoid arguments about the media conglomerate’s 2007 leveraged buyout at a hearing on whether to confirm its reorganization plan.

But Judge Kevin Carey indicated that he will not hold a full-blown trial on buyout-related claims at the confirmation hearing, set to begin Aug. 30. Get the full story »