Filed under: Local Company News
US private equity firm Bain Capital reiterated yesterday that it would not increase its $3.50 billion (R25 billion) bid for fashion retailer Edgars Consolidated Stores (Edcon) after a prominent fund manager called the offer 50 percent too low.
Filed under: People in the industry
Fred Withers goes against the grain. For a start, he says that covers definitely sell books. He should know; he is the author of a novel life.
Filed under: Local Company News
The JSE confirmed it had “in principle” agreed to allow the listing of a partial holding in Shoprite, crucial to Brait’s planned private equity takeout of the retailer.
Filed under: Local News
2007-04-12
The Securities Regulations Panel (SRP) was assessing a complaint by Templeton Asset Management’s Mark Mobius that Bain Capital’s $3.5 billion (R25 billion) offer for Edgars Consolidated Stores (Edcon) was flawed. (more…)
Filed under: Local Company News
An LBO is the acquisition of another company using a significant amount of borrowed money to meet the cost.
Often, the assets of the company being acquired are used, in addition to the assets of the acquiring company, as collateral for the loans.
The purpose of leveraged buyouts(LBO) is to allow companies to make large acquisitions without having to commit a lot of capital.
Imara SP Reid analyst Stephen Meintjes said that because of the volatility of commodity prices, LBOs for gold companies were less likely than for clothing and food retail firms, which had more stable revenues.
