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BUSINESS
May 9, 2009 | Associated Press
AT&T Inc. said Friday that it would buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion in a deal affecting 1.5 million cellphone subscribers. Verizon Wireless was forced to sell the service areas, which are spread over 18 states, to satisfy regulatory conditions of its purchase of Alltel Corp. The areas are mainly Alltel territories that overlap with Verizon's own coverage.
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BUSINESS
May 9, 2009 | Associated Press
AT&T Inc. said Friday that it would buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion in a deal affecting 1.5 million cellphone subscribers. Verizon Wireless was forced to sell the service areas, which are spread over 18 states, to satisfy regulatory conditions of its purchase of Alltel Corp. The areas are mainly Alltel territories that overlap with Verizon's own coverage.
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BUSINESS
February 25, 2000 | Bloomberg News
Toys R Us Inc. said Japan's Softbank Corp. has agreed to invest about $57 million for an undisclosed stake in the toy chain's Internet business and pay an additional $10 million for warrants. The warrants would allow it to buy 1.2 million Toys R Us shares at $13 each. Three other investment firms, Blackstone Group, KKR & Co. and Evercore Partners, also agreed to invest undisclosed amounts. Shares of Paramus, N.J.-based Toys R Us closed unchanged at $11.50 in NYSE trading.
BUSINESS
September 6, 2011
WASHINGTON — Carlyle Group is planning to raise $100 million through an initial public offering. The private equity firm is going public even as fears about the global economy have punished stock markets. Many companies canceled their IPOs in August. Private equity firms buy companies and later try to sell them for more money. They often borrow money to fund their purchases. The business slumped during the recession. Other large private equity companies have gone public recently.
BUSINESS
November 23, 2011
Private equity firm KKR & Co. LP and three partners say they have agreed to buy the privately held oil and gas company Samson Investment Co. for $7.2 billion In the deal announced Wednesday, KKR and its partners will get access to oil and gas assets in booming shale regions in the U.S., including shale formations that contain large amounts of oil and other liquid hydrocarbons. Samson's wells in the deep water Gulf of Mexico and along the Gulf Coast are not included in the deal.
BUSINESS
October 26, 2009 | Bloomberg News
Capmark Financial Group Inc., the lender owned by firms including Goldman Sachs Group Inc. and KKR & Co., filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion. The company listed consolidated debt of $21 billion and consolidated assets of $20.1 billion as of June 30 in Chapter 11 documents filed in U.S. Bankruptcy Court in Wilmington, Del. Horsham, Penn.-based Capmark is one of the largest U.S. commercial real estate finance companies, with more than $10 billion in originations, according to Moody's Investors Service.
BUSINESS
May 3, 2012 | By Andrew Tangel
Private equity firm The Carlyle Group's debut on the stock market has so far not resulted in a pop in its share price. But Carlyle's stock hasn't fallen below its IPO price either, suggesting Wall Street agrees with its initial public offering of 30.5 million shares at $22 each. Carlyle is the latest buyout shop to go public in the last few years, following rivals Blackstone Group Inc., Oak Tree Capital Group, Fortress Investment Group and KKR & Co. In midday trading, Carlyle's stock was up 4 cents, or 0.18%, on the Nasdaq, where it has been trading under the symbol “CG.” Carlyle, which has offices in locations including Los Angeles and New York, has approximately $147 billion of assets under management.
BUSINESS
December 2, 2010 | Bloomberg News
Seagate Technology, the disk-drive maker that ended takeover talks with TPG Capital, also turned down a proposal from competitor Western Digital Corp., according to two people with knowledge of the matter. A combination with Western Digital would have faced antitrust obstacles and may have resulted in management departures, said the people, who declined to be identified because the talks were private. Western Digital indicated to Seagate it was willing to pay 10% to 50% more than TPG, one person said.
BUSINESS
November 28, 2011 | Reuters
The Justice Department has opened a probe into the $4-billion takeover this year of Del Monte Corp. by private equity investors led by KKR & Co., according to court papers. The department's antitrust division "has been investigating the facts and circumstances surrounding the sale of Del Monte," Stuart Grant, a lawyer for Del Monte shareholders, wrote in a Nov. 23 court filing. He said he had provided documents to the division and was cooperating with the investigation. Calls to the Justice Department, KKR and Del Monte were not immediately returned.
BUSINESS
November 2, 2012 | By Tiffany Hsu
Billionaire financier Warren Buffett already has his hands in newspapers, jewelry, insurance and other holdings. Now, with the acquisition of Oriental Trading Co., the 82-year-old can add party planning. Buffett said Friday that his Berkshire Hathaway Inc. firm will buy Omaha-based Oriental Trading, the largest direct retailer of more than 40,000 discount party goods, for an undisclosed sum. Berkshire Hathaway is also headquartered in Omaha. The mail-order merchant, which sells supplies, crafts, school supplies, toys and novelties, filed for Chapter 11 bankruptcy in 2010, burdened with a huge debt load, and suffering from low consumer spending and higher costs.
BUSINESS
November 3, 2012 | By Tiffany Hsu, Los Angeles Times
Warren Buffett: party boy? It's no secret that the octogenarian Oracle of Omaha knows how to get down. He plays pingpong at shareholder meetings for his investment firm Berkshire Hathaway Inc. He plays the ukulele on television. He has sung songs while dressed as a paperboy, a rapper and rocker Axl Rose of Guns N' Roses. Now, the multibillionaire financier can have even more good times, with his purchase Friday of discount party goods retailer Oriental Trading Co. The mail-order merchant sells a cornucopia of more than 40,000 party supplies, crafts, school supplies, toys and novelties directly to consumers.
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