May 17, 2013 |
UCLA basketball Coach Steve Alford and the University of New Mexico have reached an agreement on a buyout, New Mexico officials announced. New Mexico will receive a "net benefit of $625,000 buyout," according to a statement released by university officials. There were still “some final details to resolve.” UCLA released a statement that Alford has offered to pay $300,000, and he had "previously agreed to forego certain bonuses" that were owed him. Alford jumped to UCLA on March 30, 10 days after agreeing to a 10-year contract extension with New Mexico.
May 30, 2012 |
Pep Boys' stock plunged 22% following the collapse of a buyout deal with a Los Angeles-based private equity firm. The Philadelphia-based automotive retail and repair chain on Tuesday announced the termination of its planned $1.1-billion buyout by The Gores Group. Pep Boys, which has 130 shops in California, said Gores would pay the company a $50-million termination fee and reimburse it for expenses related to the aborted merger, according to a filing with the U.S. Securities and Exchange Commission.
November 26, 2011 |
This month, a two-page letter from an angry Colorado investor arrived on Tribune Co.'s Bankruptcy Court docket. The investor, Mark Lies, was among thousands of Tribune shareholders who cashed out when the media conglomerate went private in 2007. And like those others, he stands to lose some of his winnings if junior creditors succeed in their legal bid to claw back more than $2.5 billion of the $8.2 billion in proceeds from Tribune's disastrous leveraged buyout. "What seems grossly unfair," Lies wrote to U.S. Bankruptcy Judge Kevin J. Carey, "is there doesn't seem to be any adult supervision looking out for the average investor like myself.
January 22, 2013 |
Microsoft Corp. is reportedly in discussions to help finance a buyout of struggling computer maker Dell Inc. According to the Wall Street Journal , which cited a person familiar with the talks, Microsoft's investment "would likely be in the range of a couple of billion dollars. " CNBC reported a range of $1 billion to $3 billion, citing sources close to the matter. Last week, rumors began swirling that Dell was considering a leveraged buyout and was in talks with private equity firms, with a deal that could be completed by the end of February.
October 11, 2010 |
Gymboree Corp., the San Francisco-based children's clothing retailer, agreed to be bought by Bain Capital for about $1.8 billion. The acquisition price is $65.40 a share, the companies said Monday. That's 57% more than Gymboree's closing price Sept. 30, when reports of a takeover surfaced. Gymboree may seek acquisition proposals from third parties through Nov. 20, according to the statement. Gymboree shares gained $11.88, or 22%, to $64.83 on Monday. The purchase is the largest leveraged buyout in the retail apparel sector in the last three years.
September 13, 2010 |
The unsecured creditors committee in Tribune Co.'s bankruptcy case asked a Delaware judge Monday for the right to sue Chicago real estate magnate Sam Zell and other investors and lenders who participated in the company's ill-fated 2007 leveraged buyout. The motion was largely procedural, and the document said the request is not aimed at disrupting a court-ordered mediation in the case, which is scheduled for this month. Lawyers for the committee had signaled at a previous court hearing that they would probably file a new complaint and ask for permission to pursue it because U.S. bankruptcy law would require bringing litigation surrounding the buyout within two years of the company's filing for Chapter 11 protection.