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Press Releases

EXCLUSIVE-Tribune Publishing No. 2 shareholder supports sale -sources

May 2- Oaktree Capital Group LLC, the second largest shareholder in Tribune Publishing Co, wants the U.S. newspaper company to explore a sale, people familiar with the matter said on Monday. While Oaktree is not in favor of selling Tribune for the $815 million Gannett Co Inc had offered last month, the New York- based investment firm wants Tribune to actively engage...

Source: Reuters

Bain, Vista Equity to acquire Vertafore for $2.7 billion

May 2- Buyout firms Bain Capital LLC and Vista Equity Partners Management LLC said on Monday they agreed to acquire Vertafore Inc, in a deal that sources said values the U.S. insurance software provider at about $2.7 billion, including debt. Bain and Vista are buying Vertafore from private equity firm TPG Capital LP, which Reuters reported earlier this month had...

Source: Reuters

High court to hear patent fight over adult diapers

WASHINGTON— The Supreme Court will resolve a patent dispute between companies that make adult diapers. The justices said Monday they will hear an appeal from SCA Hygiene Products AB, which argues that it did not wait too long to file a patent infringement lawsuit against rival First Quality Baby Products LLC. The divided U.S. Court of Appeals for the Federal...

Source: The Associated Press

Apollo to acquire and merge Maxim Crane and AmQuip Crane -sources

May 2- Apollo Global Management LLC has struck deals to acquire Maxim Crane Works LP and AmQuip Crane Rental LLC, creating a U.S. lifting equipment company valued at close to $1.4 billion, including debt, people familiar with the matter said. However, banks' unwillingness to offer financing then prevented the New York- based private equity firm from clinching a...

Source: Reuters

Jury: Firm not liable for burns blamed on exploding body wax

SCRANTON, Pa.— A federal court jury says a New York company isn't responsible for burns a northeastern Pennsylvania woman claims were caused by a bottle of exploding body wax. The Times-Tribune reports a jury sided with Coty US LLC, a New York City company that made the body wax. Information from: The Times-Tribune,

Source: The Associated Press

EXCLUSIVE-Ares, Apollo vying for American Capital - sources

Fortress Investment Group LLC and Blackstone Group LP have also submitted expressions of interest in the auction for American Capital, a U.S. private equity and credit investment firm with a market capitalization of $3.8 billion, the people said this week. American Capital, which said in January it would solicit offers for the company and its various business...

Source: Reuters

DreamWorks Animation exploring sale with Centerview Partners -sources

April 27- Hollywood movie studio DreamWorks Animation SKG Inc has been exploring a sale with advice from boutique investment bank Centerview Partners Holdings LLC, according to people familiar with the matter. While Universal Pictures owner Comcast Corp is in advanced talks to acquire the company, DreamWorks Animation has also been exploring a potential...

Source: Reuters

Trading Nation: Will it get worse for tech?

Erin Gibbs of S&P Advisory, and Christopher Verrone of Strategas Research Partners LLC, discuss tech stocks and investing in the sector with Brian Sullivan.


AP's 2015 profit rises 30 pct on tax benefit, cost cutting

NEW YORK— The Associated Press' earnings rose 30 percent last year on a large tax gain and cost cutting. The benefit is the main reason the AP earned $183.6 million last year, up from $140.9 million in the previous year. The 2014 profit was boosted by a $128 million gain from the sale of AP's stake in Stats LLC and other investments.

Source: The Associated Press

DEALTALK-How some SunEdison creditors scored a safe, lucrative debt deal

April 27- When a group of hedge funds agreed to lend $725 million to SunEdison Inc- three months before it filed for bankruptcy last week- they secured an unusually generous concession from the U.S. renewable energy company and its other lenders. The funds, which at the time included Tennenbaum Capital Partners LLC and Candlewood Investment Group LP, put...

Source: Reuters