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BUSINESS
July 1, 2005 | From Bloomberg News
Ripplewood Holdings said it might abandon its $1.13-billion offer for Maytag Corp. unless the appliance maker quickly resolved talks with rival bidders. Maytag, based in Newton, Iowa, is in talks with China's Haier Group and two buyout firms, which bid $1.28 billion. New York-based Ripplewood asked Maytag to accept its offer and said it might collect a $40-million termination fee, Maytag said.
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BUSINESS
August 18, 2009 | Times Wire Reports
The publisher of Reader's Digest said it would file for Chapter 11 bankruptcy protection with a plan to swap a portion of its debt for ownership of the company. Reader's Digest Assn. Inc., owned by New York private equity firm Ripplewood Holdings since 2007, said it had reached an agreement in principle with a majority of secured lenders to erase a portion of the $1.6 billion they hold in senior secured notes. The lenders will get ownership in return.
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BUSINESS
February 4, 2009 | Times Wire Reports
The maker of Hostess Twinkies and Wonder Bread has emerged from more than four years of bankruptcy protection. Interstate Bakeries Corp. of Kansas City, Mo., said it had wrapped up deals with lenders and investors that would provide almost $600 million in financing. A group of lenders and investment firm Ripplewood Holdings are splitting ownership of the company and taking it private.
BUSINESS
September 13, 2008 | From Bloomberg News
Interstate Bakeries Corp. and the Teamsters union ended their standoff over a new union contract, allowing the bankrupt maker of Hostess Twinkies to reorganize with financial backing from buyout firm Ripplewood Holdings. Lawyers for Interstate announced the deal Friday in U.S. Bankruptcy Court in Kansas City, Mo. Under the proposed reorganization, Ripplewood and hedge fund manager Silver Point Finance would invest in Interstate, and the Teamsters would accept a series of concessions that would save the snack maker from liquidation.
BUSINESS
September 13, 2008 | From Bloomberg News
Interstate Bakeries Corp. and the Teamsters union ended their standoff over a new union contract, allowing the bankrupt maker of Hostess Twinkies to reorganize with financial backing from buyout firm Ripplewood Holdings. Lawyers for Interstate announced the deal Friday in U.S. Bankruptcy Court in Kansas City, Mo. Under the proposed reorganization, Ripplewood and hedge fund manager Silver Point Finance would invest in Interstate, and the Teamsters would accept a series of concessions that would save the snack maker from liquidation.
BUSINESS
June 24, 2003
* Lillian Vernon Corp. stockholders overwhelmingly approved a $7.25-a-share merger with a private equity fund managed by Ripplewood Holdings. * Interactive Corp., the electronic commerce company run by Barry Diller, completed the $1.8-billion purchase of the 32% of Hotels.com it didn't already own.
BUSINESS
July 22, 2005 | From Bloomberg News
Maytag Corp., the No. 3 U.S. appliance maker, said its board was unable to determine whether an offer to buy the company from larger rival Whirlpool Corp. is "financially superior." Such a determination is a prerequisite to negotiating with Whirlpool under an existing deal with buyout firm Ripplewood Holdings, Newton, Iowa-based Maytag said. Maytag said it would continue to evaluate Whirlpool's bid. Whirlpool, the biggest U.S.
BUSINESS
April 19, 2006 | From Bloomberg News
Kohlberg Kravis Roberts & Co., the world's biggest buyout firm, plans to raise $1.5 billion in an initial public offering of a private equity fund, said people with knowledge of the sale. The IPO would mark the first time in Kohlberg Kravis' 30-year history that founders Henry Kravis and George Roberts would give smaller, individual investors a way to participate in its takeovers.
BUSINESS
April 17, 2003 | From Bloomberg News
Lillian Vernon Corp., the 52-year-old seller of monogrammed knickknacks and items for the kitchen and garden, agreed to be acquired and taken private by a closely held investment firm for about $60.5 million. Chairman and founder Lillian Vernon, the catalog and Internet retailer's largest shareholder, will give up her daily responsibilities and be a nonexecutive chairman, the company said.
BUSINESS
July 14, 2005 | From Bloomberg News
Shareholders of Federated Department Stores Inc. and May Department Stores Co. approved the $11-billion combination of the companies to create the second-largest U.S. department store operator. The companies said they expected the transaction to close in the fiscal third quarter pending antitrust approval. Federated said in April that it had received additional requests from the Federal Trade Commission about the merger, without providing details.
BUSINESS
July 1, 2005 | From Bloomberg News
Ripplewood Holdings said it might abandon its $1.13-billion offer for Maytag Corp. unless the appliance maker quickly resolved talks with rival bidders. Maytag, based in Newton, Iowa, is in talks with China's Haier Group and two buyout firms, which bid $1.28 billion. New York-based Ripplewood asked Maytag to accept its offer and said it might collect a $40-million termination fee, Maytag said.
BUSINESS
July 20, 2005 | From Times Wire Reports
Maytag Corp., which is the subject of a bidding war, said Tuesday that Haier Group of China and two partners had dropped their bid for the U.S. appliance maker. Maytag said it had received a letter from the Chinese appliance maker and partners Bain Capital and Blackstone Group saying that they would no longer try to acquire outstanding shares of Maytag. The group's decision came as Maytag rival Whirlpool Corp. prepared a $17-a-share bid for the company, valuing it at $1.3 billion.
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