LyondellBasell is looking to raise $3.25 billion in exit financing. The package will include both junk bonds and a senior term loan facility.
Greentech Capital Advisors has nabbed Deutsche Bank private placement veteran Heather Smith to spearhead its efforts in the market.
Sun Capital Partners has acquired Arch Aluminum & Glass Co. through a 363 bankruptcy sale.
High Road Capital Partners bought Celco Controls, a Canadian designer of automation control systems across a number of industries.
Advent International, which already has offices scattered across 16 countries worldwide, opened a New York office, relocating managing director Tim Franks from London to oversee the new outpost.
Tactics like the poison pill are rarely used but can be employed by a target board to get a better offer or a white-knight suitor.
For all the bullishness over tech M&A, no one seems ready to proclaim the market fully open, nor does anyone predict another banner year like 2007, when $193 billion of tech transactions were completed.
Investment bankers have found that, at a time when food commodity prices are above historical levels, interest is heightened in cross-border transactions among agribusiness companies.
Food-and-beverage companies are seeking both product growth and distribution efficiency through acquisitions.
More bankrupt companies are considering junk bonds to finance their exits, but while high-yield issues provide more flexibility and other advantages for debt-laden issuers, they are not a panacea and arent applicable to all businesses, market participants say.