June 8, 2012 |
Marketcast, one of three dominant research firms in the movie industry, has been sold to Shamrock Capital. Like its competitors Nielsen NRG and OTX, Marketcast provides studios with box office predictions based on audience research and also consults on marketing campaigns to help determine which advertisements and trailers are most effective with different audience segments. Its prior owner was Reed Business Information, a division of Dutch media giant Reed Elsevier that also owns the trade publication Variety.
June 7, 2012 |
The Obama campaign's jabs at Mitt Romney's record at Bain Capital, which have been widely panned across the Northeast, could work quite well in Ohio, judging by the latest survey from the bipartisan Purple Poll. Across the 12 battleground states the monthly poll surveys, 47% of likely voters said they agreed with the statement that private equity firms “care only about profits and short-term gains for investors. When they come in, workers get laid off, benefits disappear and pensions are cut. Investors walk off with big returns, and working folks get stuck holding the bag.” By contrast, 38% agreed that “private investment and equity firms help the American economy grow.
June 5, 2012 |
Slumping stocks, rising unemployment and a European crisis: Does such a depressing cocktail make consumers feel more or less inclined to party? Would you pay $2.7 billion to find out? That's what private equity firm Thomas H. Lee Partners essentially agreed to do Tuesday, buying a majority stake in Party City Holdings Inc. The shindig supplier, founded in 1947, leads a party goods industry worth $10 billion, according to Boston-based THL. Party City has products in more than 40,000 retail outlets worldwide, 825 brick-and-mortar party superstores and more than 400 temporary Halloween pop-up shops each year.
May 31, 2012 |
The future of Pep Boys has been cast in serious doubt after a Los Angeles private-equity firm scuttled a $1-billion deal to buy the struggling auto parts retailer. Gores Group walked away from the acquisition amid worries that Pep Boys' business was deteriorating. The company posted weak first-quarter results this month, when the deal first began to disintegrate. Analysts pointed out that the Gores Group's willingness to pay a $50-million breakup fee without challenging it in court might signal trouble for Pep Boys.
May 25, 2012 |
For all its flirting, private equity firm Sycamore Partners didn't want to commit in the end to Talbots Inc., breaking off talks to buy the struggling women's retailer for $215 million. Talbots' stock sank 36%, sinking 92 cents to $1.64, in late morning trading in New York on Friday, even as the company reported improved profit. The retailer's negotiations with Sycamore had been extended twice since May 5. Ultimately, Sycamore told Talbots that it wasn't ready for a deal. The retailer said in a statement Friday that it “remains open to pursuing a transaction” with the private equity firm.
May 24, 2012 |
Top agents at International Creative Management on Wednesday completed the buyout of the agency from longtime Chairman and Chief Executive Jeff Berg and private equity firm Rizvi Traverse Management - ending a long-running management drama at one of Hollywood's leading agencies. Staff members of the 400-person firm celebrated with a champagne breakfast. Twenty-nine agents are now partners who will own and control the Century City-based firm, which has been renamed ICM Partners.
May 23, 2012 |
Benihana Inc., the Japanese-style and sushi restaurant chain known for slicing, dicing and frying food in front of diners, has accepted an offer to be sold to a private equity group for $296 million. Angelo, Gordon & Co. plans to pay Benihana shareholders $16.30 a share in cash in a transaction that's been approved by the Miami-based chain's board. Benihana shareholders must also approve the acquisition. The price is a premium of 46% over the average closing price for the 30 days before March 13, when Benihana first said it was exploring strategic alternatives for its business.
May 22, 2012 |
It's come to this: Joe Biden compared Mitt Romney to a horse. The vice president, campaigning in New Hampshire on Tuesday, argued that Romney has it wrong when he tells voters that things "have gotten much worse" and that Obama administration policies are to blame. Biden was armed with a chart that showed monthly job losses that grew in the final months of the George W. Bush administration began to diminish after President Obama took office, and eventually turned into job growth.
May 8, 2012
Clothing retailer The Talbots Inc. says it has received a $210.9 million takeover offer from private equity firm Sycamore Partners. Sycamore, Talbot's largest shareholder, is offering $3.05 per share for the company. That's a 9 percent premium from the stock's closing price on Friday. Talbots, based in Hingham, Mass., announced the offer on Monday. Talbots had 69.2 million shares outstanding as of Jan. 28, according to a filing with the Securities and Exchange Commission.
May 1, 2012
SCOTTSDALE, Ariz. — P.F. Chang's is being acquired and taken private by a private equity firm in a deal valued at about $1.09 billion. Under the terms of the agreement released Tuesday, New York's Centerbridge Partners LP will buy shares of P.F. Chang's China Bistro Inc. for $51.50 each. The cash offer represents a 40 percent premium over the company's Monday closing stock price. The news sent shares of P.F. Chang's soaring $12.06, or 30 percent, to $51.75 in premarket trading.