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Deals

Pending

By type
By industry

Private equity
Bear hugs

Competing offers

Troubled deals

Terminated deals

Subsidiary buy-in

 

Recently Closed

2006 Deals

Club deals

Financings

Largest US buyouts

Issues

 

Deal protection Go shops 

Go-shop litigation

Stub equity

Two-step tender offers

Fairness opinions

Financing conditions

Stapled financing

Alternative trading markets

Private equity firms going public

Delaware Chancery denies United Rentals specific performance
Sallie Mae buyout terminated
Harman buyout terminated; Sponsors claim material adverse change
Lear shareholders vote down increased Icahn offer
Huntsman accepts Apollo's competing offer
Buyers warn that Sallie Mae may not close
Icahn affiliate boosts Lear offer by 4.1%
Advanced Medical trumps Warburg deal for Bausch & Lomb
KKR files for an IPO
Blackstone to buyout Hilton Hotels for $20B
Och-Ziff Capital (hedge fund manager) files for $2B IPO
BCE (Bell Canada) in $48.5B buyout
Competing bidder makes unsolicited tender offer for Topps
GLG Partners (UK) to go public in US by reverse merger with a SPAC
Harman Int'l files preliminary proxy including stub equity option
VC Strine criticizes go shop process used in Topps buyout
Senate tax proposal targets Blackstone IPO
Ceridian buyout faces opposition from 14.9% holder
Sponsors raise offer for Biomet; Will use tender offer
Aeroflex is sued over break-up fee payment
Clear Channel buyers file registration statement for stub equity
Sponsors raise offer for Laureate Education; Will use tender offer

Private Equity Firms 
Hyperlinked index of firms and their deals

Trends in financing conditions
The trend of PE sponsors acceding to reverse break-up fees continues.  The amount of these fees is often equated to the seller's break-up fee.  We survey recent deals.

Topics - Issues

Anti-takeover provisions

Asset lock-ups

Bear hugs

Best knowledge

Break-up fees

CVRs

Deal protection

Earn-outs

Fairness opinions

Force the vote

Go shop provisions

Lock-ups

MAC clauses

Poison pills

Rights plans

Special committees

Third party beneficiaries

Termination

 

By type
By industry

Private equity
Bear hugs

Competing offers

Troubled deals

Terminated deals

Subsidiary buy-in
 

Recently Closed

2006 Deals

Club deals

Financings

Largest US buyouts

Ancillary agreements

Big boy letters

Confidentiality agreements

Standstills

Voting agreements

Escrow agreements

Letters of intent

Lock-up agreements

l protection

Earn-outs

Fairness opinions

Force the vote

Go shop provisions

Lock-ups

 

 

 

Deal protection Go shops 

Go-shop litigation

Stub equity

Two-step tender offers

Fairness opinions

Financing conditions

Stapled financing

Alternative trading markets

Private equity firms going public


Recent Opinions
United Rentals
In re Topps
Netsmart
LAMPERS (Caremark)
SS&C Technology
ABRY Partners
In re TCI
In re Toys "R" Us 
Cox Communications
Orman v Cullman

New Deals Announced
Countrywide/BofA
Cognos/IBM
Commerce Bancorp
Countrywide
Dow Jones
Sequa Corp
BCE (Bell Canada)
HD Supply
Penn National Gaming
CKX
CDW
Alliance Data Systems
Chrysler
Cablevision

Bear Hugs - Unsolicited
Take-Two/Electronic Arts
Yahoo!/Microsoft

New Proxies Filed
CKX
Commerce Bancorp
Dow Jones
Penn National
Guitar Center
Sallie Mae
Alliance Data
CDW
First Data
Penn National
Dow Jones

Recently Completed
Alabama National
Cognos
Dow Jones
Harrahs
Sallie Mae - terminated
Tribune
Lyondell
Manor Care
Sequa
Nuveen
Dobson
Alltel
Ceridian
Station Casinos
Bausch & Lomb
PolyMedica
Hilton Hotels
Avaya
Harman - terminated
TXU
Guitar Center
First Data
Catalina Marketing
Clear Channel
Biomet
TOPPS
CDW
Acxiom - terminated
Laureate Education
ServiceMaster
EGL
Aeroflex
Dollar General
Claire's Stores
OSI
Kronos
Kinder Morgan
USI Holdings
United Surgical
Adesa
SafeNet
Realogy
Sabre Holdings
Univision

Other Notable Deals

Fortress Group IPO
Harrah's
HCA
Freescale

Select Financings

Freescale
Univision
Education Management
Toys R Us


Clear Gif