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.
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.
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.
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 30, 2008 |
Triarc Cos. Inc., the Atlanta-based operator of Arby's, completed its $2.34-billion takeover of Dublin, Ohio-based Wendy's International Inc.
July 4, 2008 |
Two investment firms pulled the plug on their $5.82- billion acquisition of Penn National Gaming Inc. after the racetrack and casino operator's stock price tumbled. Fortress Investment Group and Centerbridge Partners will pay Penn National $225 million in cash as a termination fee, plus $1.25 billion in what amounts to no-cost capital until 2015. Penn National said that its board was unwilling to negotiate a reduced buyout price and that the settlement was preferable to suing the buyers to force the acquisition.