Home » Energy

Energy

M&Ain't

July 7, 2008 - 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.

US Auto Wreck?

July 7, 2008 - GM and Ford share prices are trading at 52-week lows and investors have found that bonds from auto makers are tough to sell. At the same time, credit default swaps for both companies are at levels suggesting that they will file for bankruptcy within the next five years.

Letter From Dubai

June 30, 2008 - Dubai Gold & Commodities Exchange chief executive talks about the exchange's latest offerings--crude oil contracts--and his plans for the future

Do IPOs Lead To M&A?

June 30, 2008 - In order to win targets, it might pay for buyers to consider an option not always associated with the M&A market--IPOs. A recent academic study concludes that many companies close acquisitions within a few years of going public.

PE Pros Leading Debt Syndications

June 23, 2008 - Private equity firms are taking a much more active role in securing debt financing for leveraged acquisitions, illustrating the stiff challenge facing financial sponsors in the leveraged finance market amidst a slower deal market, a group of buyout executives said at IDD's 'Post Crunch M&A: Doing Deals in a Down Market' conference in midtown Manhattan last Wednesday.

Deconstructing The Commercial Mortgage Market

June 23, 2008 - The credit crisis that's roiled Wall Street for nearly a year has dramatically changed how commercial properties are financed, altering the roles of different participants in a financial food chain that underwrites mortgages for properties such as malls and office buildings and then resells them into securities. Borrowers have had to turn to so-called portfolio lenders such as insurance companies and banks. In some cases, hedge funds and other funds have stepped in to provide short-term loans.

Healthcare Providers Need Care, Too

June 16, 2008 - A variety of factors are causing more hospitals and other healthcare organizations to seek turnaround and restructuring services.

Small Caps Still Luring Hedge Funds

June 9, 2008 - 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.

Now What?

June 9, 2008 - One nice thing about the credit crunch being declared dead by so many is that we don't have to write and read so much about the credit crunch. Relax, though, because Wall Street plays no second fiddle to Main Street when it comes to generating new problems to worry about, real or imagined, and like clockwork it seems we have a new crisis: insidious inflation.

Vice Precedent

June 9, 2008 - Whenever the economy softens, investors seeking refuge will often turn to the sin industries. The thinking, of course, is that smoking, drinking and gambling are recession-proof. Recently, however, a chalk outline has been drawn clearly around the gaming industry, proving, at least temporarily, that some peccadilloes are still better bets in an up cycle.

Emerging Market Payola

June 2, 2008 - 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

June 2, 2008 - 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.

Lehman's A-Team for Corporate Workouts

June 2, 2008 - It's no secret that an economic slowdown and rising borrowing costs have brought about their share of casualties in corporate America. So, Lehman Brothers has responded to an expected increase in demand for rescue money for out-of-court restructurings, debtor-in-possession (DIP) loans and exit loans by bringing its investment bankers and fixed income professionals into one restructuring group.

KKR, JPMorgan Ride Infrastructure Train

May 26, 2008 - Kohlberg Kravis Roberts and JPMorgan have recruited infrastructure professionals in the wake of a significant development in the sector.

Airlines, Oil & Jen

May 26, 2008 - Random thoughts and second thoughts heading into the Memorial Day weekend...