This morning we have several pieces that are key for buyout and private equity investors alike. Deals are continuing as you will see below, but they are not as traditional in public to public deals, and private equity deals will be looking different than 2007 (duh!). Here is a digest of some of the deals:
Nationwide Financial Services, Inc. (NYSE: NFS) has received a buyout offer from its parent company, which already controls the company via a Class B share ownership. This will end up being a mutual insurance company again rather than a stock insurance company. At least that is the case if it agrees to be bought.
Iomega Corporation (NYSE: IOM) received a buyout offer from EMC Corp. (NYSE: EMC) that would be for $3.25, although the board has snubbed the offer. If you look at the history you'll understand why.
The Blackstone Group, L.P. (NYSE: BX) posted earnings this morning that were under estimates and actually were a net loss after charges. You'll want to see the comments from Steve Schwarzman, because this will show you the tone for 2008 in private equity land. At least they have a good dividend now.....
A complicated-sounding deal came this morning, that is really in essence not complicated. White Mountains Insurance Group, Ltd. (NYSE: WTM) is essentially buying back a 16% stake held by none other than Warren Buffett's Berkshire Hathaway (NYSE: BRK-A).
The rumors or speculation surrounding Sprint Nextel Corp. (NYSE: S) are continuing, yet it is having almost no net impact on the stock. Speculators have been noting Carlos Slim of Mexico may want to bundle this one or that even Deutsche Telecom (NYSE: DT) may want to bundle it up either in a buyout or in a strategic investment of sorts.
M&A Diary: Merger offers continue, but at smaller rate
Recent Posts
- Private equity tries to feast on Lyondell blow-up (1/07/2009)
- New Year's resolution for VCs: Survival (1/05/2009)
BloggingBuyouts is provided for informational purposes only. Nothing on the service is intended to provide personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. You are solely responsible for any investment decisions that you make. The contributors who provide the content of BloggingBuyouts may, from time to time, hold positions in the securities discussed at the time of writing and they may trade for their own accounts. Such holdings will be disclosed at the time of writing. By using the site, you agree to abide to BloggingBuyouts' Terms of Use.
