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News Breaks | | | | September 19, 2012 | | 07:02 EDT |  | BX, GS | Vivint to be acquired by Blackstone for in excess of $2B
Vivint and Blackstone (BX) announced a definitive agreement under which a fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partner VI, L.P., will acquire Vivint from its existing shareholders, including Goldman Sachs (GS), Peterson Partners, Jupiter Partners and other minority shareholders for in excess of $2B. As part of the transaction, Blackstone will acquire Vivint Solar, Inc. and 2GIG Technologies, Inc. from its respective shareholders. It is expected that the transaction will close before year end. Citi and BofA Merrill Lynch acted as financial advisors and Jones Day acted as legal counsel to Vivint in the transaction. Blackstone Advisory Partners and Raymond James acted as financial advisors and Simpson Thacher and Bartlett served as legal counsel to Blackstone in the transaction. | |
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News For BX;GS From The Last 14 Days Check below for free stories on BX;GS the last two weeks. |
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| May 24, 2013 | | 05:56 EDT |  | GS | Goldman Sachs imposes checks on conflicts to help restore image, Reuters says
 Subscribe for More Information | | | May 22, 2013 | | 19:40 EDT | | BX | Blackstone, ProLogis pay $960M for warehouse portfolio, Reuters reports
Blackstone (BX) and ProLogis (PLD) have agreed to pay $960M for a portfolio of warehouse and distribution centers majority owned by Lehman Brothers, reports Reuters, citing two sources familiar with the deal. Reference Link | | | 16:25 EDT |  | GS | On The Fly: Closing Wrap
Stocks on Wall Street were sharply lower following a day where the Fed dominated the news. The averages were higher early in the session as Fed Chairman Ben Bernanke testified in front of Congress. However, the averages crossed into negative ground as Bernanke's comments on the potential for future QE tapering were digested. The selling accelerated in the late hours of the session following the release of the minutes from the Fed's last FOMC meeting. ECONOMIC EVENTS: In the U.S., Federal Reserve Chairman Ben Bernanke delivered testimony before the Joint Economic Committee of Congress, stating that premature tightening of monetary policy would carry a "substantial risk" of slowing or ending the economic recovery. Bernanke, however, also said the central bank could begin winding down its bond-buying program at one of its "next few meetings" if the economy continues to improve. The FOMC minutes, released at 2:00 pm ET, indicated that some committee members expressed a willingness to adjust assets purchases, though some disagreement existed over what economic data would be needed to begin such a program. The minutes also said some members might want to cut asset purchases by as soon as June. The National Association of Realtors said existing home sales advanced 0.6% to an annual rate of 4.97M units in April, which was the highest level since November 2009 but still below expectations for a rise to a 4.99M-unit rate. COMPANY NEWS: Target (TGT) shares lost $2.86, or 4.01%, to $68.40 after the company's first quarter report, which it called "disappointing." The company also cut its full-year earnings and same-store sales views. MAJOR MOVERS: Among notable gainers was Saks (SKS), up $1.83, or 13.39%, to $15.50 after the New York Post said the company hired Goldman Sachs (GS) to explore strategic alternatives and Bloomberg said KKR (KKR) was considering a stake in the luxury retailer. Also higher following its better-then-expected quarterly results was Zale (ZLC), which advanced $1.20, or 22.22%, to $6.60. Among noteworthy losers were a number of Solar stocks, including Trina Solar (TSL), down $1.07, or 14.9%, to $6.11, and SunPower (SPWR), down $1.81, or 8.62%, to $19.19 after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed. Also lower was SolarWinds (SWI), down $6.57, or 13.71%, to $41.34 after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. INDICES: The Dow was down 80.41, or 0.52%, to 15,307.17; the Nasdaq was down 38.82, or 1.11%, to 3,463.30; and the S&P 500 was down 13.81, or 0.83%, to 1,655.35. | | | 14:29 EDT |  | GS | Goldman Sachs volatility near low end of historic range
Goldman Sachs June call option implied volatility is at 21, July and October is at 22; compared to its 26-week average of 25 according to Track Data, suggesting decreasing price movement. | | | 13:07 EDT | | GS | KKR weighs Saks investment, may push Neiman Marcus merger, Bloomberg says
KKR (KKR) is considering an investment in Saks (SKS) and may push Saks to pursue a merger with Neiman Marcus, reports Bloomberg, citing people with knowledge of the matter. Saks shares are up $2.25, or 16.46%, to $15.92 after reports last night said the company retained Goldman Sachs (GS) to explore strategic alternatives, including a possible sale. Reference Link | | | 09:02 EDT |  | GS | Financials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. | | | 07:10 EDT | | BX | Pactera establishes special committee to evaluate going private proposal
Subscribe for More Information | | | May 21, 2013 | | 18:56 EDT | | GS | On The Fly: After Hours Movers
Subscribe for More Information | | | 17:03 EDT | | GS | Merck announces $5B share repurchase
Subscribe for More Information | | | 09:33 EDT |  | GS | Bloomberg LINK to host a summit
Subscribe for More Information | | | | 07:13 EDT | | GS | U.S. bank mergers less likely this year, Bloomberg reports
Subscribe for More Information | | | 07:12 EDT | | GS | Credit Suisse now second largest Asia prime broker, Reuters reports
The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, reports Reuters.Reference Link | | | 07:12 EDT | | BX | Buyout firms eye Rockwood Holdings pigments businesses, Reuters reports
Subscribe for More Information | | | 06:10 EDT | | GS, BX | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports. | | | 05:46 EDT | | GS | Thomson Reuters, others to challenge Bloomberg messaging, WSJ reports
Subscribe for More Information | | | May 20, 2013 | | 13:06 EDT | | BX | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. | | | 12:52 EDT | | BX | Blackstone biggest outside investor in SAC Capital, CNBC reports
Blackstone (BX) is the biggest outside investor in SAC Capital, with over $400M placed at the hedge fund, CNBC's Kate Kelly reports. Blackstone expects to pull some money from SAC, added Kelly. | | | 09:26 EDT | | BX | On The Fly: Pre-market Movers
Subscribe for More Information | | | 08:38 EDT | | BX | First Potomac sells industrial portfolio for $259M
Subscribe for More Information | | | 06:41 EDT | | GS | Goldman Sachs seeking to sell stake in Chinese bank, Reuters reports
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