Betaville is in a bit of a grump.
A lot of hard worrk was thrown out of the window this afternoon after infrastructure investor John Laing Group decided to confirm is in talks with KKR about a possible offer for the company. Below is the link:..
Today's British Sunday newspapers all led with cracking corporate scoops on their respective front pages - something Betaville hadn't seen for a while.
There was The Sunday Telegraph's tale about William Hill's new owner selling off its British betting shops, possibly to Apollo. Below is the link:..
It took fourteen stories but Betaville got there in the end.
Yes, Acadia Healthcare, the US-listed healthcare firm, has finally confirmed the Betaville Intelligence series of articles about the sale of the Priory, including the last installment about Waterland and Median Kliniken's interest in purchasing the rehabilitation centre well known for treating celebrities, such as Kate Moss...
It would appear KKR's acquistion of a 5.3pc stake in London landlord Great Portland Estates went unnoticed on Friday afternoon following all the excitement around William Hill.
Clearly, the big buyout firms can sense now is a time to snap up bargains even if that does just involve paying £74 million for a (relatively) small stake in a London landlord...
It's tough to get excited about bid tales in this awful bear market. But today there was a line tucked away in the Alex Brummer's column in the business section of the Daily Mail that might give bulls something to chew over...
KKR, the US-listed private equity giant, has emerged as a surprise frontrunner to buy Dr Martens for over £300 million.
Sources familiar with the matter said KKR - the former owner of pharmacy giant Boots that was immortalised in the bestselling book Barbarians At The Gate - is vying with Carlyle, another Wall Street buy-out firm, to buy Dr Martens from Permira, a European investment firm...
So KKR decided to finally make a statement regarding FTSE 100-listed NMC Health. I have pasted it below:
"Kohlberg Kravis Roberts & Co. L.P. ("KKR") notes the announcement yesterday by NMC stating that it has received an approach from KKR regarding a possible offer for NMC.
KKR confirms that it has not made a proposal nor discussed with NMC the terms of any possible offer, and that it does not intend to make an offer for NMC."..
Sometimes I wonder whether it's all worth it; this M&A reporting lark. Even when you break a great story, people hand out stick for one reason or another.
Anyway, in case you missed the news today NMC Health confirmed last week and weekend's tales about private equity interest, namely KKR, in NMC Health.
Below is the link: ..
KKR, the US-listed private equity investor, is said to be the buy-out firm that has most recently held talks with the NMC Health about purchasing all of the company.
People following the situation said senior financiers at KKR held discussions about a buy-out deal for the whole group with senior executives at NMC Health, the London-listed gulf hospitals operator, in the last two weeks...
The frothiness continues unabated with KKR coming forward to submit a formal takover proposal for Walgreens Boots Alliance. Click on the link to the Financial Times piece below for the latest on the deal:
https://www.ft.com/content/9824af60-049d-11ea-a984-fbbacad9e7dd
Now Betaville was a bit sceptical that a $70 billion leveraged buy-out of Walgreens Boots Alliance would actually happen...
It's getting frothy out there.
First off: it emerges Stefano Pessina is exploring a $70 billion plus leveaged buy-out of Walgreens Boots Alliance. The last time Italian took a company private was just before the credit crunch in 2007 when he acquired Alliance Boots for £11 billion with the backing of KKR, Wall Street's most powerful private equity firm...
"Locusts!" That's how the German establishment dubbed private equity firms looking for deals in the country a decade ago.
Wind on ten years and KKR - the American buy-out firm lionised in the seminal book Barbarians At The Gate - is backing a $8 billion leveraged buy-out of Axel Springer.
Yet, as far Betaville can see, none of the German establishment have objected to such a "locust" taking control of one Germany's largest media companies...
Followers of my work will know that I have written a couple of pieces on the Tangle Teezer auction for the Mail on Sunday. Here is a link to the latest article published a couple of weeks ago:..