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Stock Market & Financial Investment News

News Breaks
December 27, 2012
07:42 EDTBX, FIG, CG, APO, KKRPE firms using more debt to fund acquisitions, FT reports
The amount of cash that U.S. private equity groups are putting into large acquisitions has fallen to just 33% this quarter, representing a five-year low, and the groups are also using the strong debt market to pay themselves more in special dividends this year than at any time since 2007, according to Financial Times, citing data from Thomson Reuters and Dealogic. Reference Link
News For KKR;CG;BX;APO;FIG From The Last 14 Days
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October 8, 2015
16:41 EDTAPOOn The Fly: Top stock stories for Thursday
Stocks began the session in negative territory but eventually pared their opening losses and turned mixed. The averages moved in a fairly narrow range from there as investors waited for the release of the minutes from last month's FOMC meeting. The minutes showed that the central bank believed labor market conditions improved since the beginning of the year, but concerns about low inflation, market declines, global growth and the value of the dollar kept the Fed from raising rates. The majority felt it was prudent to wait for additional information on the economy before raising rates. As the market digested the minutes, the averages moved to the upside, with the Dow leading the way. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 263,000 in the week ended October 3, versus expectations for 273,00 first-time claims. The FOMC minutes for the September 16-17 policy meeting didn't read very hawkish, as some may have feared would be the case. The minutes showed "many members" thought rate hike conditions had been met or would be met soon. However, "several members" were worried that the downside risks to growth and inflation had increased, leading the committee to feel it was "prudent to wait" for additional information confirming that the economic outlook had not deteriorated and bolstering members' confidence that inflation would gradually move up. In Asia, markets were mixed, with Japan, India and other markets seeing some profit taking following days of strong gains, though mainland China re-opened for the first time after a week long holiday and saw a catch-up rally that pushed the Shanghai composite up about 3%. COMPANY NEWS: EMC (EMC) rose $1.22, or 4.7%, to $27.18 following media reports regarding M&A talks between the IT services and software company and Dell, which is privately owned by founder Michael Dell and private-equity partner Silver Lake. The Wall Street Journal reported that Dell and Silver Lake are in "advanced talks" to buy EMC, noting that one source indicated the deal being discussed calls for the buyers to spin off EMC's VMware (VMW) unit. Then, CNBC's David Faber said, in keeping with the Journal, that Dell is in talks to acquire all of EMC for "above $27 per share," adding that a deal could be announced as soon as a week from now. MAJOR MOVERS: Among the notable gainers were Polycom (PLCM) and Mitel (MITL), which gained 16.7% and 16.5%, respectively, after Elliott Management disclosed stakes in both companies and urged the two to consider a combination. Also higher was Tronox (TROX), which rose 15.9% to $7.66 after Bloomberg reported that Apollo Global (APO) was mulling a takeover of Chemours (CC) as a potential first step in then consolidating titanium-dioxide makers. Shares of Chemours gained 7.12% to $8.43 following the report. Among the noteworthy losers was eBay (EBAY), which was the worst performer on the S&P 500, sliding $1.53, or 5.96%, to $24.15 after ChannelAdvisor (ECOM) estimated that eBay's same-store sales growth decelerated to 1.1% in September from August's 3.4% rate. Also lower were shares of Cardiovascular Systems (CSII), which sunk 18.1% to $13.62 after the company warned of weaker than expected preliminary Q1 results. Spectranetics (SPNC) fell following the news, as the company, which also markets catheters that remedy blockages in arteries, dropped 7.9% to $10.91 in sympathy with its peer. INDEXES: The Dow rose 138.46, or 0.82%, to 17,050.75, the Nasdaq gained 19.64, or 0.41%, to 4,810.79, and the S&P 500 advanced 17.60, or 0.88%, to 2,013.43.
11:14 EDTAPOTronox surges following report of Apollo interest in Chemours
Shares of Tronox (TROX), a manufacturer of titanium-dioxide, jumped in morning trading after Bloomberg reported that Apollo Global Management (APO) was considering a takeover bid for Chemours (CC) in a possible attempt to consolidate other makers of titanium-dioxide, or TiO2. WHAT'S NEW: Apollo Global is mulling the potential of making an offer for Chemours, the former chemical-manufacturing unit of DuPont (DD), and using it as a base to consolidate TiO2 makers, Bloomberg reported, citing people with knowledge of the matter. The private equity firm has held preliminary talks with lenders over a buyout of Chemours, whose market value is roughly $1.4B, the report said. Apollo would then approach other companies, including Tronox, about a tie-up to generate scale and cost efficiencies, the report added. OBSTACLES: Bloomberg noted that several hindrances stand in the way of a possible Apollo Global-Chemours tie-up, including a tax bill for DuPont should Chemours be taken private too soon after the July spinoff. In addition, debt will play a major role if a proposal should happen, since Chemours still owes $4B to DuPont as a result of a payment made to DuPont prior to the spinoff, the report says. WHAT'S NOTABLE: On September 25, Huntsman Corporation (HUN), which also manufactures TiO2, said that it anticipates lower titanium-dioxide selling prices, especially in North America, to affect its third quarter earnings, which the company is scheduled to report on October 27. The company also noted at the time that it sees soft demand in the Asia Pacific region having an impact on its Q3 results as well. PRICE ACTION: In morning trading, Tronox shares rallied nearly 20% to $7.92, Chemours rose 1.4%, DuPont gained 1.5%, Huntsman advanced 8.2% and Apollo Global slid 0.7%.
06:14 EDTBXBioMed Realty Trust volatility elevated into Blackstone acquiring for $8B
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06:11 EDTBXBioMed Realty agrees to be acquired by Blackstone for $23.75 per share
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06:10 EDTBXBioMed Realty agrees to be acquired by Blackstone for $23.75 per share
October 7, 2015
18:55 EDTAPOApollo Global may explore buyout of Chemours, Bloomberg says
14:01 EDTBXBlackstone in $39M settlement pact with SEC over fee disclosure
The Securities and Exchange Commission announced that three private equity fund advisers within The Blackstone Group have agreed to pay nearly $39M to settle charges that they failed to fully inform investors about benefits that the advisers obtained from accelerated monitoring fees and discounts on legal fees. Nearly $29M of the settlement will be distributed to affected fund investors. Reference Link
12:18 EDTCGCarlyle eyes small acquisitions with Japan buyout fund, Bloomberg says
Carlyle Group plans to use the nearly $1B in its third Japan buyout fund to buy family-owned firms and other mid-cap companies, Bloomberg reports, citing Tamotsu Adachi, the company's managing director and co-representative for Japan. In Tokyo, Carlyle often seeks family-owned companies with enterprise values of below $300M, the report says. Reference Link
06:10 EDTBXBlackstone says 'bullish' on New York and Miami, The Independent reports
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October 6, 2015
07:24 EDTBX, KKRbloomberg to hold a summit
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October 4, 2015
16:02 EDTAPOXchanging says received acquisition proposals from Apollo Global, Capita
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October 2, 2015
07:15 EDTBXBlackstone's Gray: Bearish market to lead to REIT takeovers, Bloomberg says
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October 1, 2015
19:15 EDTBXJPMorgan preparing $18B bid for U.K. mortgage pool, Bloomberg says
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13:37 EDTBXBerry Plastics completes purchase of AVINTIV for $2.45B
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10:52 EDTAPOLand and Buildings says more changes needed to enchance New York REIT value
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08:03 EDTBXBlackstone completes spin-off of PJT Partners
Blackstone (BX) and PJT Partners (PJT) announced the successful completion of the previously announced spin-off of Blackstone's financial and strategic advisory services, restructuring and reorganization advisory services and Park Hill Group businesses, which have been combined with PJT Capital LP, a global independent financial advisory firm founded by Paul J. Taubman, to form an independent, publicly traded company called PJT Partners. Blackstone common unitholders of record as of the close of business on September 22, 2015 received one share of Class A common stock of PJT Partners for every 40 common units of Blackstone held on the record date. The spin-off has been structured to be tax-free to Blackstone's common unitholders for U.S. Federal income tax purposes, except to the extent of any gain or loss recognized by a common unitholder as a result of any cash received in lieu of fractional shares. Common unitholders are urged to consult their tax advisors with respect to U.S. federal, state, local and non-U.S. tax consequences of the spin-off.
September 30, 2015
18:25 EDTAPOMidCap to acquire Mubadala GE Capital loan portfolio
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September 28, 2015
13:07 EDTCGCarlyle to acquire controlling stake in PA Consulting, FT reports
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September 25, 2015
16:43 EDTKKRKKR no longer holds stake in Smucker, lost right to designate board observer
On September 21, The J. M. Smucker Company (SJM) entered into an underwriting agreement, dated as of September 21, with Blue Holdings and Morgan Stanley with respect to a registered underwritten public offering of 8.28M shares of the company's common shares, to be sold by the selling shareholder. The common shares sold by the selling shareholder represent 100% of the ownership interests attributable to affiliates of Kohlberg Kravis Roberts (KKR). The secondary offering was completed on September 25. Upon completion of the secondary offering, KKR ceased to be the beneficial owner of any of the common shares and lost its right to designate a board observer.
10:58 EDTBXBlackstone management to meet with Jefferies
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