Monday, May 21, 2007
More & More Private Equity Buyouts
BBC News: Music giant EMI agrees takeover
UK music business EMI Group has agreed to be bought by private equity firm Terra Firma for £3.2bn including debt.
Posted by nearly30 @ 05:43 PM (356 views) Add Comment
12 Comments
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1. nearly30 said...
What's going on - this is from today's news alone:
Lloyds sells share registrar unit
Lloyds TSB has agreed to sell its share registration unit to a private equity firm in for £550m ($1.1bn) in cash.
US mobile firm bought for $27.5bn
US mobile phone network Alltel has agreed to be bought by TPG Capital and Goldman Sachs for $27.5bn (£14bn).
China buys $3bn Blackstone stake
The Chinese government has agreed to pay $3bn (£1.5bn) for a 10% stake in US private equity company Blackstone.
Dodgy stuff IMHO!!
2. dohousescrashinthewoods said...
Are we seeing the dizzy heights of the debt bubble?
Like the last glittering leaps as credit dries up below.
3. dohousescrashinthewoods said...
Also:
S&P 500 reaches record level
http://www.ft.com/cms/s/6dd50480-07b7-11dc-9541-000b5df10621.html
FTSE hits new 6½ year high
http://www.ft.com/cms/s/278095a0-076a-11dc-80b9-000b5df10621.html
Are we days, weeks or months from something going pop?
4. Jim Tallis said...
I'm begining to think that a pop is all wishful thinking!
5. Ash4781 said...
We'll lose a lot of household names!
Anyone working in corporate restructuring ?
6. Observer said...
I think its already gone pop.Its just that we are half a sound year away........
7. enuii said...
I've given up trying to work out where all this money is coming from and going to, the only thing I do know is that a lot of these deals are very short term with the idea of passing the company in a short period of time. Unfortunately it is like playing musical chairs and a lot of these companies are already seriously overvalued with regard to their earnings potential.
Add this one to the potential list:-
Providence Equity Partners is weighing a $15 billion bid (£7.5 billion) for Virgin Media.
Clear Channel Outdoor, enjoying strong revenue growth agrees to $19.6 billion bid.
TPG and its partners have already made an indicative bid worth 3.4 billion euros ($4.6 billion) for spanish airline Iberia.
These are all from todays news as well, courtesy of google news 'equity bid', and there are many more under $3 billion than is worth mentioning.
8. nearly30 said...
Indeed do.. and enuii - this is very similar to the dizzying heights of DotCom floats of 1999/2000 - actually the Private Equity figures make those floatations look like small change - and we know what happened to them!
See lastminute.com flotation wows market from 2000
And of course it couldn't happen again Stockmarkets - will they crash? from 1999
Stock market rises in 1999 (to 18 Dec)
Malaysia - 90%
Singapore - 82%
Nasdaq - 80%
S Korea - 69%
Indonesia - 60%
Hong Kong - 59%
Sweden - 57%
Japan - 50%
France - 40%
Germany - 27%
Holland - 21%
UK - 17.8%
Spain - 16%
Dow Jones - 15.6%
Italy 13%
FTSE is up around 20% and Dow some 26% (YOY)
9. nearly30 said...
Sorry - more blog.
From 1999 = "What makes many internet company valuations baffling for seasoned observers is that many have yet to make a profit, and show little sign of ever doing so."
And "Wall Street guru Ralph Acampora, chief strategist for Prudential Securities, predicts the Dow Jones rising towards 14,000 and the Nasdaq to 5,000 in the coming 12 months.
He told the BBC: "I'm a technical analyst, and by definition I'm an individual who follows trends, follows momentum, follows leadership. A lot of the leadership in 1999 is going to continue until the early part of 2000.
"The year 2000 is a presidential election year - the Dow usually has a good ending in a presidential election year - and I see a lot of rotation: that's the lifeline of a bull market. As long as I see the rotation, I'm going to say bullish."
Sound familiar????
10. lvmreader said...
Yahoo mulling Bebo buyout for USD1billion.
Yahoo! eyes $1bn bid for Bebo
...weighing a $1 billion (500m) bid for Bebo, the privately owned social networking...better place itself for acquisitions. Bebo, which is based in San Francisco but counts...and about 31 million worldwide. Given Bebo’s strength in Britain, an approach...
11. lvmreader said...
TPG buys Alltel mobile phone network
TPG Capital, the former Texas Pacific, has joined forces with Goldman Sachs’s private equity unit to buy Alltel Corporation, America’s largest mobile phone network, in a deal worth about $25 billion (£12.7 billion).
Alltel accepted the takeover bid, rather than completing an auction that had attracted at least two other teams of bidders, sources familiar with the situation said yesterday.
First-round bids were not due until June 6, sources said, meaning that Alltel had accepted the offer without knowing whether its auction would draw higher offers.
The deal is TPG’s most high-profile success since it lost out on a bid to buy Qantas, the Australian airline, and walked away from a £10 billion bid for JSainsbury, Britain’s third-largest supermarket group.
12. bidin'matime said...
Thanks guys - you've perusaded me to sign the paperwork to move a couple of pensions into cash...!