December 14, 2006 |
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.
November 16, 2006 |
Texas Pacific Group has withdrawn from the bidding for radio broadcaster Clear Channel Communications Inc. in an auction that may fetch about $18 billion, two people briefed on the firm's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.
October 12, 2006 |
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.
May 12, 2006 |
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.
April 20, 2006 |
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.
December 14, 2002 |
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.