VCJ Staff
Vector Capital has completed its acquisition of information security company SafeNet Inc. (Nasdaq: SFNT) for $28.75 per share. The total deal was valued at approximately $634 million. Merrill Lynch acted as financial advisor to SafeNet on the transaction. www.vectorcapital.com www.safenet.com
Court Square Capital Partners and Weston Presidio have completed their acquisition of Denver-based specialty chemical manufacturer MacDermid Inc. (NYSE: MRD) for $35 per share. The transaction was valued at over $1.3 billion, including assumption or repayment of approximately $301 million of debt. Company chairman and CEO Daniel Leever participated alongside the equity sponsors. www.macdermid.com
Avista Capital Partners has completed its $210 million acquisition of BioReliance Corp. from Invitrogen Corp. (Nasdaq: IVGN). Financing was arranged by UBS Securities and The Royal Bank of Scotland. BioReliance is a Rockville, Md.-based contract service organization providing biological safety testing, toxicology, viral manufacturing and lab animal diagnostic services to the global pharma industry. www.avistacap.com […]
Ten private equity firms have asked to submit offers for restructuring energy giant Calpine Corp., according to TheStreet.com. Calpine entered Chapter 11 bankruptcy protection more than a year ago, and plans to pick a winner within the next two weeks. Its suitors include Carlyle, KKR, TPG, Blackstone, Hellman & Friedman and Equity Capital Partners. www.calpine.com
Airline Partners Australia, the private equity consortium bidding on Qantas Airways, has modified its conditions in order to sidestep skeptical shareholders. The group reduced its acceptance requirement from 90% to 70%, and extended the closing date by 14 days to May 4. The current offer is Au$5.45 per share, which would value Qantas at around […]
MedImmune Inc. (Nasdaq: MEDI) has retained Goldman Sachs to explore strategic alternatives that could include a sale of the company. The move comes after MedImmune received “indications of interest by major pharmaceutical companies, coupled with recent expressions by certain stockholders of dissatisfaction with the company's short-term stock price performance.” MedImmune's market cap was approximately $9 […]
Magna International confirmed that it is in talks with Onex about making a joint bid for Chrysler, according to The Globe & Mail.
NovaStar Financial Inc. (NYSE: NFI), a Kansas City-based residential mortgage lender, has retained Deutsche Bank to help it explore strategic alternatives, including a possible sale of the company. The company's market cap is around $188 million. In related news, Wachovia Capital Markets has arranged an additional $100 million financing facility for NewStar. www.novastarmortgage.com
ManorCare Inc. (NYSE: HCR), a Toledo, Ohio-based nursing home operator, has retained JPMorgan to explore strategic alternatives, including a possible sale of the company. The company's current market cap is just shy of $4.5 billion. www.hcr-manorcare.com
Enhanced Equity Fund has completed a recapitalization of PrePak Systems Inc., a Cookeville, Tenn.