Aerospace/Defense

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JHT Delivered To Bankruptcy Court

JHT Holdings Inc., a Kenosha, Wisc.-based delivery service provider to North American commercial vehicle manufacturers, filed for bankruptcy protection on June 24.

Morgan Stanley Seals Learning Care Deal

Morgan Stanley Private Equity has completed its $700 million acquisition of children’s education provider Learning Care Group. The transaction is Morgan Stanley Private Equity's third US investment.

Huntsman Sues Apollo, Claims PE Firm Acted Fraudulently

Huntsman said Monday it has filed suit against Apollo Management, seeking more than $3 billion in damages for fraud and tortious interference.

UPDATE: Apollo, Huntsman Go At It

Call it another day, another lawsuit for the private equity business. Apollo Management files suit against Huntsman, claiming that its increased debt and deteriorating financial results would result in an insolvent company if its $10.6 billion acquisition of Huntsman was completed.

A New Take On SPACs

If ever there were any questions about whether special purpose acquisition companies would wind up providing deal flow to the private equity community, those doubts should have been dispelled yesterday.

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Articles

M&Ain't

By now, it's a well-worn tale, this one relayed by an investment banker: A private equity firm in the process of acquiring a company in a deal that would normally take six months will now spend a year hoping to get it done. But at least they're trying. Extended deal time frames and the falloff by private equity firms in buying companies have been the hallmark of the first half of this year, and while industry participants predict a slight uptick, overall not much will change in the remaining six months of the year. Regardless, Wall Street banks, which have laid off thousands of bankers due to the market slowdown, will continue to feel pressure in their M&A business the remainder of the year.

Signs of Interest from the North

While there is continued global interest in acquiring Canadian companies and assets, especially from the US, the winds of economic change are beginning to blow in a new direction. Canadian acquirers, buoyed by a strong Canadian dollar, the weakened US economy and a tight lending environment in the US, are more actively participating in the US M&A market.

Small Caps Still Luring Hedge Funds

The hedge fund universe is large, and managers are constantly seeking high returns, but there is one thing hedge funds still fancy in small packages: stocks.

Emerging Market Payola

Under-the-table payments have long been considered just part of doing business in certain markets. The Department of Justice’s squeeze on BAE Systems CEO Michael Turner, however, signals that regulators are starting to crack down.

Deutsche Revamps Leveraged Debt CM

Following the departure of its European head of leveraged debt capital markets, Deutsche Bank is pooling its global leveraged debt capital markets under one man, David Flannery.

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