KKR is renegotiating deal to buy Hoechst paint unit
Article Abstract:
Kohlberg Kravis Roberts & Co. (KKR) is renegotiating the terms of its planned three-billion-mark ($1.79 billion) purchase of Hoechst AG's paint business unit. KKR has earlier reached an agreement with Hoechst to acquire the unit, but due to concerns over valuation of the pact, the deal has been postponed. According to people close to the deal, KKR is currently talking with Hoechst to persuade the latter to lower the price placed on its paint business, Herberts GmbH. KKR is reportedly pursuing to lower the price because its lead financier, Credit Suisse First Boston, cancelled the 1.2 billion-mark junk-bond issue it promised to give to finance the greater part of the deal.
Comment:
Is renegotiating terms of its planned three-bil-mark purchase of Hoechst AG's paint business unit, Germany
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Long-Term Capital rejects Buffett
Article Abstract:
Long-Term Capital Management LP of Greenwich, CT, rejected the $250 million takeover bid of investor Warren Buffett, American International Group Inc. (AIG) and Goldman, Sachs & Co. Under the bid, which would have required the ouster of Long-Term founder John Meriwether, Buffett's Omaha, NE-based Berkshire Hathaway Inc. intended to invest $3 billion, while Goldman Sachs planned to put up $300 million, and AIG another $700 million. However, principals of the cash-strapped hedge fund accepted the bailout offer of 15 commercial banks and Wall Street securities firms, including Goldman Sachs. The successful group offered to give $3.65 billion to own 90% of Long-Term.
Comment:
Long-Term Capital Management LP rejects $250-mil takeover bid of co, investor Warren Buffett & American International Group LP
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Merger activity in U.S. shifts focus
Article Abstract:
After jumping on the tech bandwagon and acquiring heavy losses, buyout firms are now looking to old standard industries, such as trucking and cement for investments.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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