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Advent International has agreed to buy UK appliances insurer Domestic & General PLC, for approximately Gbp523.9 million. D&G stockholders would receive Gbp14.25 per share, which is a 25.7% premium over the trading price on May 18, when D&G announced that it had received a takeover approach. www.adventinternational.com www.dgplc.com
Sun Capital Partners has completed its $337 million take-private buyout of Friendly Ice Cream Corp. Friendly stockholders received $15.50 per share. The company was advised by Goldman Sachs. www.friendlys.com
KANSAS CITY, Mo. (AP)– H&R Block Inc. on Thursday cast new doubt on the pending sale of its troubled mortgage lending arm, saying it's trying to renegotiate sales terms as credit markets continue to deteriorate. “The mortgage origination market is in the midst of the most severe dislocation it has seen in years, maybe the […]
COLUMBUS, Ohio (AP) – Wendy's International Inc. has agreed to let a major shareholder have access to crucial information about the third-largest hamburger chain so he can decide whether to bid for the company. Billionaire investor Nelson Peltz has said his company, Triarc Cos., which owns fast-food chain Arby's, would be a natural buyer for […]
Amadeus Capital Partners and Northzone Ventures have acquired a majority stake in EPiServer AB, a Stockholm, Sweden-based provider of Web content management solutions. The deal was valued at $23.5 million. Peter Larsson, who recently built and sold Protect Data to CheckPoint for over $600 million, also invested and will join EPiServer as CEO. www.episerver.com
Smith & Wollensky (Nasdaq: SWRG) shareholders have approved an $11 per share buyout offer from Bunker Hill Capital. The total deal is valued at around $94.6 million. www.smithandwollensky.com
High Street Capital has acquired Mac & Massey LLC, an Ocala, Fla.-based broker and distributor of ingredients to manufacturers of food products. The deal was supported by $7.5 million in financing from Patriot Capital Funding — $7.25 million in subordinated notes and a $250k equity contribution
MILWAUKEE (AP) – Midwest Air Group Inc. thought it had successfully spurned AirTran Holdings Inc.'s takeover bids and would be flying in smooth skies once again. After months of wrangling, Midwest was ready to enter into a definitive agreement Wednesday to accept private investment firm TPG Capital's $400 million cash bid. But more turbulence came […]
NEW YORK (AP) – Executives of Blackstone Group and Goldman Sachs Group Inc. said Monday they see opportunities in the deteriorating debt market, and plan to swoop in and buy some of those obligations at steep discounts. The weakening of debt, triggered by collapsing demand for securities backed by subprime mortgages, has led to a […]
Brinker International Inc. (NYSE: EAT) said that it is exploring a sale of its Romano's Macaroni Grill restaurant chain, which includes 217 units. Earlier this year, Brinker sold 95 Chili's Grill & Bar restaurants to Olympus Partners for $155 million. www.brinker.com