VCJ Staff
Cardinal Health (NYSE: CAH) has completed the sale of its pharmaceutical technologies and services (PTS) business to The Blackstone Group for approximately $3.3 billion. PTS develops, manufactures and packages medication and other products for pharma and biotech firms, and employs approximately 10,000 people at more than 30 global facilities. It generates approximately $1.8 billion in […]
United Rentals Inc. (NYSE: URI has retained UBS and Credit Suisse to help it explore strategic options that could include a sale of the company. United Rentals has a market cap of approximately $2.2 billion. In related news, the company announced that CEO Wayland Hicks will retire this June, with COO Michael Kneeland succeeding him […]
KKR may make a third bid for Australian retailer Coles Group Ltd. Coles chairman Rick Allert said in a statement that KKR was confident it could equal or beat an existing Au$19.7 billion bid from Pacific Equity Partners, Westfarmers Ltd., Permira and Macquarie Bank. www.kkr.com
Advent International has acquired a majority stake in French discount retailer Stokomani from Alpha Group. No financial terms were disclosed for the deal, which was done in partnership with Stokomani management. www.adventinternational.com www.stokomani.com
The Carlyle Group is nearing a deal to acquire a 42% stake in Indian business process outsourcing company Cambridge Solutions for around $170 million, according to The Economic Times. The deal would be done in partnership with Cambridge Solutions co-founder Ramesh Vangal, and would represent a win over rival bidders Apollo Management, EDS and HCL. […]
Institutional Shareholder Services has recommended that Genesis HealthCare Corp. (Nasdaq: GHCI) stockholders reject a proposed $63 per share buyout offer from Formation Capital and JER Partners. Genesis responded with a letter to shareholders, in which it reiterated its recommendation that the offer be accepted. www.genesishcc.com
NES Rentals Holdings Inc., a portfolio company of Diamond Castle Holdings, has sold its Tanks business to Odyssey Investment Partners for just under $200 million. Diamond Castle took NES private last year for approximately $850 million, and last month sold its Boston-based crane rental subsidiary Shaughnessy Crane Services to AmQuip Corp. www.nesrentals.com
Shamrock Holdings has agreed to acquire AVP Inc. (OTC BB: AVPI), a Los Angeles-based lifestyle sports entertainment company focused on professional beach volleyball. The total deal is valued at approximately $36.9 million, with Shamrock stockholders to receive $1.23 per share. Jefferies & Co. advised AVP on the deal. www.shamrock.com www.avp.com
Wear Me Apparel, a New York
Dow Chemical Co. (NYSE: DOW) could receive a $50 billion buyout offer later this week, according to London's Sunday Express newspaper. The buyout group reportedly includes KKR and a group of Middle Eastern investors, and is being advised by JPMorgan. News of the possible buyout has sent Dow stock up sharply, with the offer expected […]