SS&C Technologies Inc., a Windsor, Conn.-basedfinancial management software company backed by The Carlyle Group, has set its IPO terms to 10.73 million shares being offered at between $13 and $15 per share.
This is a reduction in the company’s plans, as it originally filed last December to raise $300 million. It had previously filed for, and withdrawn, a $200 million offering.
Read more »LONDON (Reuters) - Private equity firm KKR and Warner Music Group (WMG.N) are in talks to launch a break-up bid for Warner’s indebted British rival EMI, the Sunday Times newspaper said.
The paper said KKR is interested in acquiring the music publishing arm of EMI, which it says bankers value at around 1.2 billion pounds ($1.8 billion), while Warner Music wants EMI’s recorded music division, which it says is more difficult to value.
Read more »Meru Networks Inc., a Sunnyvale, Calif.-based developer of wireless infrastructure solutions, has set its IPO terms to 4.39 million common shares being offered at between $13 and $15 per share. It would have a market cap of approximately $223 million, were it to price at the high end of its range.
Meru Networks plans to trade on the NYSE under ticker symbol MERU, with BoA Merrill Lynch serving as lead underwriter.
Read more »Cinemark Holdings, a publicly traded movie house operator, completed a $660 million fundraising from a joint venture between AMC and Regal Entertainment Group, led by JPMorgan and Blackstone Advisory Partners. The company’s backers, Madison Dearborn Capital Partners, Syufy Enterprises LP Mitchell Special Trust, will sell some of their shares, leaving Madison Dearborn with a 32.1% stake, Syufy Enterprises with 5.3% and the Mitchell Special Trust 4.9%.
Read more »Willbros Group, Inc. agreed to acquire InfrastruX Group, Inc., a utilities services company backed by Tenaska Capital Management, for $480 million in cash and stock. The company had previously filed to undergo a $290 million IPO. Tenaska acquired InfrastruX from Puget Energy Inc for $275 million in 2006.
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Read more »Mubadala Development Company has agreed to acquire a 9 percent equity stake in The Raine Group LLC, a firm which they seeks to capitalize on emerging investment opportunities in the media, entertainment and sports sectors around the world. Mubadala Development Company and William Morris Agency will be investors in Raine alongside private equity pioneer Ted Forstmann. Raine, a boutique merchant bank, was founded by Joe Ravitch, former senior partner and global head of media at Goldman Sachs, and Jeff Sine, former Vice-Chairman and global head of Technology, Media & Telecom at UBS.
Read more »MCM Capital Partners and Blue Point Capital have sold portfolio company Amprep, Inc., Marietta, Georgia-based manufacturer of specialty chemicals, to Zep, Inc. Total enterprise value for the transaction approximately $74 million.
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Read more »(Reuters) - Private equity fund CVC Partners has agreed to sell Paperbox Holdings Ltd to Japan’s Oji Paper Co Ltd for an undisclosed amount, Oji said on Friday.
CVC acquired Paperbox, a unit of Malaysia’s GS Paper & Packaging, in 2007 from Malaysian gaming group Genting (GENT.KL) for $212 million.
The deal comes amid a series of private equity exits in Asia, helped by an improvement in market sentiment.
Read more »(Reuters) - Courts Asia, a furniture and electronics retailer with operations in Singapore and Malaysia, is planning to raise more than $100 million in a Singapore initial public offering, sources said on Friday.
The IPO, comprising a mix of new and existing shares, will raise funds to support Courts’ consumer finance business and the opening of new stores, according to a draft prospectus on the Monetary Authority of Singapore’s website.
Read more »(Reuters) - Hopes for a recovering auto industry buoyed car parts maker Sensata Technologies Holding (ST.N) in its market debut on Thursday, sending its shares up as much as 5.6 percent.
Sensata manufactures sensors for automakers, thermal circuit breakers for aircraft, temperature controllers for electric motors, and other industrial technology. In 2009 more than half of its revenue came from the auto industry.
“One of its biggest customers right now is Ford and Ford is cranking on all cylinders,” said IPO Boutique Senior Managing Partner Scott Sweet.
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