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Altadis, a Franco-Spanish tobacco group, has opened its books to a consortium led by CVC Capital Partners, a European buyout firm, and rival Imperial Tobacco. The Financial Times said that the Altadis board feels that CVC and PAI Partners' Euro 50 per share preliminary offers is closer to matching the group's “real value” than the […]
Timothy's Coffees of the World Inc., a Canadian coffee shop operator, has retained Piper Jaffray to explore a possible sale of the company, according to LBO Wire. The company is majority-owned by a husband-wife team, while the report added that both Bessemer Venture Partners and JPMorgan Partners were past investors. No word on if either […]
CVC Capital Partners and PAI Partners have finally delivered their long-expected rival proposal for the acquisition of the Franco-Spanish tobacco company Altadis. Their preliminary offer is at an indicative price of EUR 50 per Altadis share in cash, higher than the EUR 47 per share, EUR12 billion(US$17.65bn) revised proposal from Imperial Tobacco, which has been […]
Madison Dearborn Partners has agreed to acquire VWR International Inc. from Clayton, Dubilier & Rice. No financial terms were disclosed for the deal, but a source puts the total pricetag at between $3.5 billion and $4 billion. VWR is a West Chester, Pa.
Clayton, Dubilier & Rice and Kohlberg Kravis Roberts & Co. have agreed to acquire U.S. Foodservice from Royal Ahold NV (NYSE: AHO) for $7.1 billion. U.S. Foodservice is the second-largest broad-line foodservice distributor in the U.S.
Cable & Wireless PLC said that it has no immediate plans to spin off its businesses or split the company. The statement came in response to an article in yesterday's Observer, which suggested that the British phone giant could split itself into UK and international units, and then sell each off to competitors and/or private […]
Wendy's International Inc. (NYSE: WEN) has formed a special committee of independent directors to explore strategic options, including a possible sale of the company. The fast food company has a market cap of approximately $3 billion, and has been under increasing pressure from shareholders like hedge fund manager Nelson Peltz. www.wendys.com
Great Atlantic & Pacific Tea Co. (NYSE: GAP) confirmed that it is seeking to sell 66 Farmer Jack grocery stores in and around Detroit. A&P acquired the Farmer Jack chain in 1999. www.aptea.com
J.F. Lehman & Co. has agreed to acquire the Inertial Products business of BAE Systems (Nasdaq: BEAS), for $140 million. Inertial Products supplies military and commercial customers with inertial sensors and measurement units for the control, navigation and guidance of aircraft, precision weapon systems, missiles, unmanned aerial vehicles, aerial targets and drones, tanks and fighting […]
Creo Capital Partners has agreed to acquire Chris' & Pitt's Food Products Inc., a Houston, Texas