May 22, 2004 |
Texas natural gas tycoon Oscar Wyatt and his partners have agreed to buy Enron Corp.'s prized pipeline assets. The $1.8-billion deal, announced Friday, would put Wyatt back in the gas business and give the fallen energy giant cash to pay creditors. NuCoastal, a Wyatt-led consortium that includes affiliates of Citigroup Inc. and Kelso & Co., would also assume $430 million of CrossCountry Energy's debt.
July 23, 1988 |
The "white knight" that rescued Arkansas Best Corp. from a hostile takeover bid with a friendly merger agreement says it was tendered about 85% of the trucking and furniture company's stock by a deadline of midnight Thursday. But Kelso & Co. extended its deadline until 4 p.m. EDT Monday because a power failure prevented delivery of all the shares and convertible debentures of Arkansas Best that had been tendered. The private merchant-banking firm had earlier extended the deadline until 3 p.m.
September 27, 2007 |
The owner of 134 Wendy's restaurants wants to bid for the nation's No. 3 hamburger chain with two private equity firms. David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners had been invited by Wendy's International Inc. to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners. "I've been involved in the brand," he said. "I see the great potential of it."
October 12, 1985 |
American Hospital Supply Corp. said Friday that it has reached an agreement to sell its Irvine-based McGaw intravenous solution division to satisfy antitrust regulators reviewing its pending merger with Baxter Travenol Laboratories. Although American did not identify the buyer beyond noting that it was "a major health-care subsidiary of a multinational Fortune 100 company," analysts said speculation has centered on Kendall Co., a division of Colgate-Palmolive.
March 6, 1990
House of Fabrics said its fiscal fourth-quarter profit climbed 18% from a year earlier on a 3% increase in sales. The Sherman Oaks-based operator of 628 retail fabric stores said net income in the quarter that ended Jan. 31 totaled $5.6 million, up from $4.73 million a year earlier, while its sales rose to $104.1 million from $100.8 million. For its full fiscal year, House of Fabrics' earnings slipped 3% to $11.1 million from $11.
November 23, 1994 |
Continental Cablevision Systems, the country's third-largest cable operator, has agreed to acquire Providence Journal Co.'s cable systems, the 15th-largest, in a transaction worth $1.4 billion, the companies said. Continental is paying for the systems with its Class A common stock and is assuming $755 million of debt for a total cost of $1.4 billion. Now privately held, Continental expects to go public as the result of the Providence acquisition.