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Jimmy John's, a Champaign, Ill.-based sandwich shop chain, has received an undisclosed amount of private equity funding from Weston Presidio. www.jimmyjohns.com
First Reserve Corp. and Texas Pacific Group have abandoned their pursuit of UK construction group Amec PLC (London: AMEC). Amec had rejected an initial Gbp1.5 billion offer last month, with The Guardian reporting that it also refused to let the firms examine its books. www.amec.com
Smith & Nephew PLC shares rose nearly 7% after The Business reported that the UK-based orthopedic device maker may receive a buyout offer from the same consortium that just agreed to buy Biomet Inc. for $10.9 billion. The consortium includes The Blackstone Group, GS Capital Partners, KKR and Texas Pacific Group. www.smith-nephew.com
Tenaska Power Fund and Warburg Pincus have agreed to acquire three electric generation stations from Dominion Resources Inc. (NYSE: D). No financial terms were disclosed. The three plants include the: 625-megawatt (MW) Armstrong plant in Armstrong County, Pa.; 313-MW Pleasants plant in Pleasants County, W.Va.; and the 600-MW Troy plant in Wood County, Ohio.
Harrah's Entertainment reportedly has accepted a $90 per share buyout offer from Apollo Management and Texas Pacific Group. The two firms originally had offered $83.50 per share, and later sweetened the bid to $87 per share. The total deal would be worth around $16.7 billion. www.harrahs.com
The Blackstone Group and Reliance Communications may bid more than $14 billion for Indian cell phone carrier Hutchison Essar from Hong Kong-based Hutchison Telecommunications, according to Bloomberg.
iPay Technologies, an Elizabethtown, Ky.�based provider of Internet bill payment services to community financial institutions, has completed a recapitalization co-sponsored by Spectrum Equity Investors and Bain Capital Ventures. No financial terms were disclosed. William Blair & Co. advised iPay on the deal, while leveraged financing was provided by CIT Lending Services. www.ipaymybills.com
Grey Mountain Partners has acquired SIG USA from SIG PLC for $51 million in cash. SIG USA is a Houston, Texas-based distributor of industrial products with 21 locations and around 300 employees. Cobblestone Advisors advised SIG on the sale. www.greymountain.com
Harrah's Entertainment Inc. reportedly has received a sweetened buyout bid from Apollo Management and Texas Pacific Group. The revised offer of $87 per share (from $83.50), would value the total deal at $15.5 billion. Harrah's is expected to formally consider the offer this week.
Cerberus Capital Management reportedly is the lead bidder for Collins & Aikman's automotive carpeting and soft trim business. No financial terms were reported, except that the division generates around $750 million in annual sales.