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Casino and racetrack operator Penn National Gaming said on Thursday its $6.1 billion takeover pact has been terminated, marking the latest leveraged buyout to crumble amid the tight credit markets and weak U.S. economy.
Following are the day’s biggest winners and losers. Find out why shares of Marvel and Disney popped while Garmin and BHP Billiton dropped.
Alliance Data Systems said Friday it terminated a $6.76 billion sale to Blackstone Group affiliates and has sued to win a $170 million business interruption payment.
The $19.5 billion sale of the radio broadcaster Clear Channel Communications to two private equity firms is in jeopardy.
Mortgage and vehicle fleet company PHH said on Tuesday it terminated its nearly $2 billion sale to General Electric and Blackstone, after the private equity firm failed to obtain required financing for the deal.
Christmas Eve brought glad tidings to Wall Street, with holiday cheer emanating from the battered financial sector and spreading through the market.
Equipment rental group United Rentals said it terminated its $4 billion takeover by Cerberus Capital Management and asked Cerberus to pay it a $100 million termination fee.
Shares of United Rentals Monday rose about 6 percent after the company said it was holding talks in a bid to resolve its lawsuit to force Cerberus Capital Management to complete the planned $4 billion buyout of the equipment rental company.
Cerberus Capital Management, in its latest attempt to scuttle its $4 billion purchase of United Rentals, said it filed a request for declaratory judgment Wednesday in New York State Supreme Court.
A $4 billion sale of loans being raised by automaker Chrysler following its takeover by buyout firm Cerberus has been indefinitely postponed, the Wall Street Journal reported.
United Rentals said Monday it filed a lawsuit seeking to force Cerberus Capital Management to complete its $4 billion leveraged buyout of the equipment rental company.
United Rentals said Monday that it had filed a lawsuit seeking to compel Cerberus Capital Management to complete its $4 billion buyout of the equipment rental company.
US stocks closed an uneasy session lower as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.
An affiliate of Cerberus Capital Management said that it is trying to renegotiate its $4 billion offer for United Rentals, but the company is refusing to engage in discussions.
Stocks will be challenged Thursday to shake off the crankiness that gripped the market late in Wednesday's session. Inflation data, a light flow of earnings and some regional economic surveys are on the calendar.
United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.
KKR, and Goldman walked away from their buyout of stereo maker Harman (HAR) Friday afternoon. Of all the deals announced this summer how many will get done?
Producing a morning show on a Monday is always a tricky bit of business, but what’s often saved the day for the “Squawk Box” staff is a plethora of merger and acquisition deals struck over the weekend... At precisely 6am, private equity struck again: Cerberus announced a deal to buy United Rentals for $4 billion, excluding debt. ... Also: landing Sirius' CEO Mel Karmazin on CNBC.
Equipment rental company United Rentals on Monday said that it had accepted a $4 billion takeover offer from private-equity fund Cerberus Capital Management
Mergers and acquisitions and a generous portion of quarterly earnings along with OPEC news is turning the stock market picture back to the plus side after Friday's selloff, though looming in the background are credit market concerns.