Posted by: in Raising Money
Filed under: Movers and shakers, Raising money, Private equity industry, Value and lack thereof, Public or private?
If you are Sam Zell right now, you’re probably sitting there wondering why on earth as an old billionaire that you thought an old world media property with very tiny in new media that you’d have to shrink and break apart to profitability was such a good idea. Tonight, that looks even more so the case.
According to MLB.com Tribune Co. rejected a no-tax proposal in the sale of Wrigley Field to the Illinois Sports facilities Authority, which also owns and operates the Chicago White Sox U.S. Cellular Field as well.
If you read the full article you’ll see how this might also impact the sale of the Chicago Cubs as well. Zell announced in April 2007 that the Cubbies were to be sold. Interestingly enough, the Cubs are also in first place in the NL Central division.
Read | Permalink | Email this | Linking Blogs | Comments
Share This
Share This
No Comments »
Posted by: in Raising Money
Filed under: Raising money, Apollo Management, Engagements, Private equity industry, Investments, Shareholders, Value and lack thereof
United Rentals Inc. (NYSE: URI) has announced a major self tender offer this morning and is is seeing shares surge in pre-market trading. It isn’t going private, but it is cleaning up its books and retiring a big portion of its common stock and preferred shares. It seems it is doing what the old private equity acquisition couldn’t do.
The company has announced its plans to tender for up to 27,160,000 shares of common stock through a altered dutch auction. This will be at a price of not less than $22.00 and not greater than $25.00. Shares shut at $19.50 yesterday and its 52-week trading range is $14.83 to $34.98.
The number of shares to be repurchased in the tender offer represents approximately 31.4% of the total outstanding number of shares. If fully subscribed, the total buy price for the common stock would be roughly $679 million. There is also the retirement of preferred shares outstanding as part of this deal, which ties into Apollo Investment Funds and the associated board members will resign from the board of directors as part of the transaction.
Continue reading the full details and analysis at 247WallSt.com.
Share This
Share This
No Comments »
Filed under: World wide web, Social Software, Search, web 2.0
inSuggest for bookmarks is the latest way to get more out of your del.icio.us account. For those not familiar, del.icio.us (now owned by Yahoo!) is a thoroughly handy little site that lets you quickly save, tag and share bookmarks. It’s a great service, but it would be an even more massive deal if there were a way to find other bookmarks you might want to see based on the ones you’re feeding in. That’s what InSuggest is trying to do.
Social networking pundits are making a large deal out of inSuggest for a good reason. If it turns out to be the next big thing, it could be a good way for interesting sites to get residual traffic and well-deserved attention from related sites that are already popular on del.icio.us. But for the average user, it’s just another useful way to discover cool new sites, and it’s easy as putting in your del.icio.us username. If you’re looking for something more specific, you can even filter by tag. Happy bookmarking!
[via ReadWriteWeb]
Permalink
Share This
Share This
No Comments »
Filed under: Bargains, Debt, Shopping, Transportation, Recession
Maybe the airlines are starting to learn something about their cost-cutting measures and price hiking: customers don’t enjoy it. At least, it looks like a fare hike over the weekend isn’t going to last, one of the few times the airlines have taken back price increases lately. Meanwhile, General Motors is also learning a few things about consumer behavior in the age of $4 gas, and is now offering discounts on SUVs and trucks.
Other news nuggets you need to know today:
Elsewhere on the Web:
Share This
Share This
No Comments »
Entries (RSS)