[at The Wall Street Journal] – TPG Sells Ping An Stake For $1.16 Billion Private-equity firm TPG Inc. has sold its remaining stake in Ping An Insurance for $1.16 billion in the latest example of how the U.S. company is reaping profits from its investments in Asia.
[at The Wall Street Journal] – H-P Outguns Dell in Takeover Duel It wasn t the biggest bidding war the tech world has ever seen, but the battle between titans H-P and Dell for a humble maker of data-storage systems certainly qualified as one of the wildest ever.
[at The Wall Street Journal] – Avis Raises Dollar Thrifty Bid Avis Budget Group increased the cash portion of its offer for Dollar Thrifty to $40.75 a share, as it battles Hertz for the potential buyout. More from the Deal Journal blog
[AP] – Synopsys Inc. said Thursday it has completed its acquisition of rival chip design software provider Virage Logic Corp. for about $315 million in cash.
[at The Wall Street Journal] – Burger King Agrees to Buyout Burger King agreed to be acquired by New York-based private investment firm 3G Capital Management for about $4 billion, including both equity and debt. Deal Journal: Buyout Is No Value Meal Heard: BK Shareholders Land a Whopper Burger King s Latest Pickle Preview: Blackstone Nears Sale of Merlin
[Reuters] – Burger King Holdings Inc agreed to sell itself to investment firm 3G Capital for $3.26 billion, giving the No. 2 U.S. fast-food chain breathing room to fix its business and close the gap with leader McDonald s Corp.
[AP] – An eastern North Carolina daily newspaper has completed details of its sale to an Alabama-based company. The Washington Daily News announced Thursday that the newly formed Washington Newsmedia LLC, an affiliate of Boone Newspapers Inc., completed purchase of the newspaper from the Futrell family.
[AP] – Hewitt Associates completed its acquisition of investment advisory firm EnnisKnupp, the company said Thursday. Terms of the deal, first announced July 20, have not been disclosed.
[at Reuters] – Moody s Investors Service on Thursday said it may cut its debt ratings on Burger King Holdings because of substantial debt that may be taken on to fund its acquisition by affiliates of 3G Capital.
[AP] – THE DEAL: Burger King Holdings Inc. is selling itself to investment firm 3G Capital in a deal valued at $3.26 billion. THE UPSHOT: Being acquired by an owner with deep pockets could give Burger King some financial breathing room to refresh its restaurants and expand internationally after years of playing follow-the-leader with McDonald s.
[at Reuters] – Moody s Investors Service on Thursday said it may cut its debt ratings on Burger King Holdings because of substantial debt that may be taken on to fund its acquisition by affiliates of 3G Capital.
[at New York Times] – Clayton, Dubilier & Rice has acquired a large minority interest in Univar, a large chemical distribution business, from buyout firm CVC Capital Partners.
[at Reuters] – * Post-crisis, valuations look attractively cheap * Tech or private equity may splash cash on ATM makers * Financial software/systems firms also likely targets
[AP] – ResCare has yet to make a decision on a $370 million buyout offer from Canadian private equity firm Onex Corp., the home health services provider said Thursday.
[AP] – WRESTLING FOR CONTROL: Avis Budget Group Inc. boosted the cash component of its acquisition offer for Dollar Thrifty Automotive Group Inc. by $1.50 per share to $40.75 per share. The stock portion of the bid remains unchanged.
[AP] – Cisco Systems said Thursday that it plans to acquire Arch Rock Corp., a maker of wireless network equipment for smart grids, for an undisclosed amount.
[AP] – Scout Investment Advisors, a subsidiary of UMB Financial Corp., said Thursday that it signed an agreement to acquire the assets of Indiana s Reams Asset Management Co.
[at Financial Times] – Clayton Dubilier & Rice, the US private equity group, is to announce later on Thursday that it has agreed to acquire a 42.5 per cent stake in Univar, the chemicals distribution group, in a deal valuing the company at $4.2bn.
[at Fox Business] – Avis Budget Group sweetened its bid to acquire Dollar Thrifty Automotive Group by a $1.50 a share in an attempt to beat Hertz in their ongoing acquisition battle.
[at TheStreet.com] – Google s recent acquisitions suggest the company is laying the foundation for a move into a new social networking platform. Here are the latest companies Google has picked up.
[at CNBC] – 3G Capital is set to announce its acquisition of Burger King Thursday, according to people familiar with the situation.
[Reuters] – A buyout deal for Burger King Holdings Inc by investment firm 3G Capital is being valued at $24 per share, or about $4 billion, cable business channel CNBC reported on Thursday.
[at Reuters] – Electrical products maker Thomas & Betts Corp has chosen to set a large stock buyback at a time when many other U.S. industrial companies are deploying cash for mergers and acquisitions.
[at The Wall Street Journal] – Land Acquisition Starts for Australian LNG Project Western Australia state said it has begun compulsory acquisition for land planned for the massive Browse liquefied natural gas project, after talks with an indigenous land council failed to reach a deal.
[at The Wall Street Journal] – Conn. A.G. Probing First Niagara-NewAlliance Deal Connecticut Attorney General Richard Blumenthal is probing First Niagara Financial Group s $1.5 billion proposed acquisition of NewAlliance Bancshares.
