When corporate restructuring affects the security of a defined benefit pension scheme, trustees will insist they are invited to the negotiating table. Myles Pink looks at the ways in which corporate activity has been affected by changes to pensions legislation, the influence of scheme trustees in the negotiating process and what options are available for private equity acquirers.
6 min read · 12 January 2013
Coates Hire is the latest listed Australian company to reject a buyout offer because the price was too low. The Carlyle Group had reportedly been a frontrunner in the race for the machinery rental company.
2 min read · 12 January 2013
John Stomber, chief executive of Carlyle Capital Corporation, has apologised to shareholders about poor communication of portfolio troubles as its parent makes its second loan in a week.
2 min read · 12 January 2013
The listed debt and equity provider has reported strong quarterly results and increased its dividend expectations, arguing that its “one stop buyout” model gives it a crucial advantage in the current market.
2 min read · 12 January 2013
Emap, the media group that is currently being circled by various private equity firms, has paved the way for its forthcoming £2 billion sale by offering its shareholders a way of minimising their potential tax bills.
2 min read · 12 January 2013
The Carlyle Group has made three senior hires into its recently-formed Asia leveraged finance team. The division, which is based in Hong Kong, is headed by Eric Mason who joined the buyout group in May from JP Morgan.
2 min read · 12 January 2013
The flurry of Refco litigation continues, as TH Lee has now filed suit against Grant Thornton, the independent auditor hired to perform due diligence on Refco before the 2004 merger agreement. The private equity firm alleges the auditor failed to notify it of suspicious transactions on Refco’s balance sheet.
2 min read · 12 January 2013
Blackstone and Fortress are taking a beating on Wall Street today.
1 min read · 12 January 2013
Cerberus portfolio company Aegis Mortgage has filed for bankruptcy – it owes the private equity firm $178 million.
2 min read · 12 January 2013
Asia’s private equity report card for the first half of this year is out: fundraising has surpassed last year’s record levels but transaction value has fallen compared to the first six months of 2006.
2 min read · 12 January 2013
