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Private Equity Binge Goes Wireless
A consortium led by the Texas Pacific Group and Goldman Sachs yesterday snapped up the nation's fifth-largest wireless provider for $27.5 billion, the largest telecom buyout ever. The $71.50 per share...
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Hot LBO Market Takes Hit
The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale...
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SEC Opens Subprime Probe
The feds are investigating the controversial bundles of financial services that have recently shaken the market and sparked a spate of leveraged buyouts, the Journal reports. SEC chief Christopher Cox...
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Credit Crunch Rocks LBOs
Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which...
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Clear Channel, Buyers Sue Banks Over Soured Deal
The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee...
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Credit Crisis Spells Disaster for Private Equity Firms
After a nearly 3-year buyout spree, private equity firms are facing tightened credit conditions just as slumping consumer spending squeezes many of their acquisitions, the New York Times reports. The...
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Tribune Company Files for Bankruptcy
The Tribune Company filed today for Chapter 11 bankruptcy protection, due to mounting debt and an inability to pay interest in the floundering economy, the Wall Street Journal reports. Tribune’s...
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Romney's Campaign a Lie of 'Historic Dimensions'
Mitt Romney's entire campaign is built around debt—he once described the nation's debt as a "prairie fire" getting "closer to the homes and children we love." Which makes the whole affair "a shimmering...
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Dell Going Private in $24B Move
Dell has reached a deal to go private, the company has announced. Shareholders will receive some $13.65 per share in a $24 billion deal, the New York Times reports, which marks a 25% premium over...
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