Brazos Private Equity Partners joined a small but growing group of PE investors that have made U.S. retail security investments.
Moelis & Co. added to its new Australian office by hiring two managing directors. The firm's team down under originally consisted of only corporate finance professionals, but the two appointments bring expertise in equity capital markets and equities research, sales and trading.
The number of "weakest link" companies has declined substantially from the record highs reached roughly a year ago, according to a report from Standard & Poors. There were 203 such companies as of March 10, down from 298 one year ago.
Lead-acid battery technology developer Firefly Energy Inc. will soon file for Chapter 7 bankruptcy. The Peoria, Ill.-based company was founded in May 2003 as a spin-off of Caterpillar.
Cerberus Capital Management will back GeoEye Inc., providing up to $100 million in debt and buying stock. Private equity began making consolidation plays in the government services space late last year.
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.
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.
With debt financing still tough to come by, private-equity investors are teaming up with deep-pocketed corporations to find new transactions and help finance their deals.
Some deals have been canceled, but observers don't expect defaults to go through the roof this year.