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BUSINESS
March 28, 2002
* J. Crew Group Inc., a closely held casual fashion retailer, said fourth-quarter profit fell 61% as sales of sweaters and jackets declined. Net income fell to $6.7million as sales fell 14% to $246.7 million. * Texas Pacific Group, a private-equity company specializing in the airline industry, agreed to buy Swissair Group's Gate Gourmet catering business for an undisclosed amount.
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BUSINESS
August 5, 2008 | From Times Staff and Wire Reports
Speculation that his job might be in jeopardy was dashed when Metro-Goldwyn-Mayer Studios announced that Harry Sloan had signed a new three-year deal to continue as chairman and chief executive of the struggling studio. Sloan was hired in October 2005 after the studio was sold to an investment consortium that includes Sony Corp. of America, Comcast Corp., Providence Equity Partners and Texas Pacific Group. Sloan recently hired former Universal Pictures movie executive Mary Parent to try to turn around MGM's box-office fortunes.
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BUSINESS
April 20, 2006 | From Bloomberg News
Texas Pacific Group, the Fort Worth buyout firm that may raise as much as $14 billion for a new fund, hired former WellPoint Inc. Chief Executive Leonard Schaeffer as a senior advisor on healthcare acquisitions. Schaeffer headed WellPoint at the time of its controversial acquisition by Anthem Inc. in 2004. WellPoint is the parent of Blue Cross of California.
BUSINESS
February 24, 2007 | Janet Wilson, Times Staff Writer
Private investment companies Texas Pacific Group and Kohlberg Kravis Roberts & Co. are close to a deal to buy Texas utilities giant TXU Corp. in what is expected to be the largest leveraged buyout ever, according to people familiar with the negotiations. The sale, slated to be announced Sunday, will include "not only the acquisition, but some very major announcements related to global warming," one person told The Times.
BUSINESS
July 22, 1997 | From Bloomberg News
Semiconductor maker Zilog Inc. on Monday accepted a $527-million buyout from an investment group led by Texas financier David Bonderman. The agreement calls for Texas Pacific Group, a Fort Worth-based partnership that includes Bonderman and several other former advisors to the Bass family, to acquire a 93.3% stake in Campbell-based Zilog, including 90% of the voting shares.
BUSINESS
August 5, 2008 | From Times Staff and Wire Reports
Speculation that his job might be in jeopardy was dashed when Metro-Goldwyn-Mayer Studios announced that Harry Sloan had signed a new three-year deal to continue as chairman and chief executive of the struggling studio. Sloan was hired in October 2005 after the studio was sold to an investment consortium that includes Sony Corp. of America, Comcast Corp., Providence Equity Partners and Texas Pacific Group. Sloan recently hired former Universal Pictures movie executive Mary Parent to try to turn around MGM's box-office fortunes.
BUSINESS
May 12, 1999 | Charles Piller
Motorola Inc. said it will sell its Semiconductor Components Group for $1.6 billion to Texas Pacific Group of Fort Worth. The division builds parts that support the functions of microprocessors, including transistors that regulate voltage and help chips communicate with one another. "This allows us to focus on the strategy of building high-value-added embedded controllers--systems on a chip," said Charles White, director of industry relations for Motorola's Semiconductor Products Sector.
BUSINESS
May 12, 2006 | From Reuters
Smurfit-Stone Container Corp. said it had agreed to sell its consumer packaging segment to private equity investor Texas Pacific Group for about $1.04 billion in cash. The company, which is in the midst of a turnaround plan, said it planned to use essentially all of the proceeds from the sale to reduce debt.
BUSINESS
October 1, 1997 | Bloomberg News
J. Crew Group Inc. plans to raise $220 million as part of a plan to buy out some of its founders as it continues talks to be acquired by Texas Pacific Group of Fort Worth. J. Crew plans to raise the money in two private placements. The first is a $155-million private placement rated "Caa1" by Moody's Investors Services and the second involves $65 million and is rated "Caa2." The ratings reflect risks associated with the company's plan to add clothing colors and styles.
BUSINESS
November 20, 1997 | Bloomberg News
Zilog Inc. said Texas Pacific Group cut its takeover offer by 20%, to $20 a share, because of declining revenue and earnings at Zilog, a Campbell-based a maker of specialized computer chips. Fort Worth-based Texas Pacific cut the price from $25 a share after Zilog disclosed that fiscal fourth-quarter sales and earnings will fall below the third quarter's, which trailed year-earlier results.
BUSINESS
December 14, 2006 | From Reuters
Qantas Airways Ltd. has agreed to a sweetened $8.7-billion buyout offer led by Macquarie Bank Ltd. and private equity firm Texas Pacific Group, sources said today. The offer of 5.60 Australian dollars a share, 10% above Qantas' last trade, was unanimously endorsed by the Qantas board after the bidders dropped their demand for a breakup fee, sources close to the transaction said. The board had rejected an offer of 5.50 Australian dollars on Wednesday.
BUSINESS
November 23, 2006 | From Reuters
Australia's Qantas Airways Ltd. has received a buyout offer from investment firms Macquarie Bank and Texas Pacific Group that could be worth more than $7.8 billion. The bid sent shares surging 25%. "The approach is confidential and incomplete and is being investigated by Qantas," the airline said in a statement, after a newspaper reported that a Macquarie-led buyout possibly worth $8 billion was in the works. A deal, which could rival US Airways Group Inc.'
BUSINESS
November 16, 2006 | From Bloomberg News
Texas Pacific Group has withdrawn from the bidding for radio broadcaster Clear Channel Communications Inc. in an auction that may fetch about $18 billion, two people briefed on the firm's decision said Wednesday. The withdrawal left Bain Capital and Thomas H. Lee Partners to submit an offer together before Tuesday's deadline for bids, said the people, who declined to be identified. Blackstone Group, Kohlberg Kravis Roberts & Co. and Providence Equity Partners Inc.
BUSINESS
October 12, 2006 | From Bloomberg News
Apollo Management and Texas Pacific Group raised their offer for Harrah's Entertainment Inc. to $15.5 billion after the company's board rejected their first bid, people familiar with the situation said Wednesday. The buyout companies increased their offer for Harrah's, the world's biggest casino operator, to $83.50 a share from $81, said the people, who declined to be identified because the proposal wasn't being publicly disclosed.
BUSINESS
May 12, 2006 | From Reuters
Smurfit-Stone Container Corp. said it had agreed to sell its consumer packaging segment to private equity investor Texas Pacific Group for about $1.04 billion in cash. The company, which is in the midst of a turnaround plan, said it planned to use essentially all of the proceeds from the sale to reduce debt.
BUSINESS
April 20, 2006 | From Bloomberg News
Texas Pacific Group, the Fort Worth buyout firm that may raise as much as $14 billion for a new fund, hired former WellPoint Inc. Chief Executive Leonard Schaeffer as a senior advisor on healthcare acquisitions. Schaeffer headed WellPoint at the time of its controversial acquisition by Anthem Inc. in 2004. WellPoint is the parent of Blue Cross of California.
BUSINESS
December 14, 2006 | From Reuters
Qantas Airways Ltd. has agreed to a sweetened $8.7-billion buyout offer led by Macquarie Bank Ltd. and private equity firm Texas Pacific Group, sources said today. The offer of 5.60 Australian dollars a share, 10% above Qantas' last trade, was unanimously endorsed by the Qantas board after the bidders dropped their demand for a breakup fee, sources close to the transaction said. The board had rejected an offer of 5.50 Australian dollars on Wednesday.
BUSINESS
November 23, 2006 | From Reuters
Australia's Qantas Airways Ltd. has received a buyout offer from investment firms Macquarie Bank and Texas Pacific Group that could be worth more than $7.8 billion. The bid sent shares surging 25%. "The approach is confidential and incomplete and is being investigated by Qantas," the airline said in a statement, after a newspaper reported that a Macquarie-led buyout possibly worth $8 billion was in the works. A deal, which could rival US Airways Group Inc.'
BUSINESS
December 14, 2002 | Reuters
British drinks giant Diageo clinched the sale of its Burger King chain to a private equity consortium led by Texas Pacific in a cut-price, $1.5-billion deal. The world's largest spirits group completed the sale after talks with the buyers that brought the price down by about a third from the $2.26 billion initially agreed on in July. Diageo shares rose $1.95 to $44 on the New York Stock Exchange.
BUSINESS
March 28, 2002
* J. Crew Group Inc., a closely held casual fashion retailer, said fourth-quarter profit fell 61% as sales of sweaters and jackets declined. Net income fell to $6.7million as sales fell 14% to $246.7 million. * Texas Pacific Group, a private-equity company specializing in the airline industry, agreed to buy Swissair Group's Gate Gourmet catering business for an undisclosed amount.
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