WHEN: TODAY, THURSDAY, DECEMBER 23RD AT 12PM ET
WHERE: CNBC'S "THE STRATEGY SESSION"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC.
KELLY: LET'S START TODAY WITH SOME BREAKING NEWS GARY I HAVE HEARD I'VE BEEN ON THE PHONE ALL MORNING AND I'VE HEARD THAT NIELSEN HOLDINGS THE MEDIA COMPANY WHICH HAS BEEN IN THE PIPELINE FOR LIKE 6 OR 7 MONTHS NOW IS LOOKING TO GO PUBLIC AS EARLY AS JANUARY. ITS A 1.7 BILLION DOLLAR DEAL AND SPECIFICALLY I'M HEARING THEY ARE GOING TO MEET RIGHT AFTER THE NEW YEAR SEE WHAT'S HAPPENING IN THE MARKETS TARGET A ROAD SHOW STARTING THE WEEK OF JANUARY 10TH AND IF ALL GOES WELL PRICE AS EARLY AS THE END OF THAT MONTH. NOW I AM ALSO TOLD THAT TOYS R US COULD BE EYEING A DEAL EARLY NEXT ALTHOUGH OF COURSE THEY GOT TO GET THROUGH THEIR FISCAL YEAR WHICH ENDS JANUARY 30TH FIRST SEE HOW THE HOLIDAY SEASON SHAPES UP
KAMINSKY: AND AGAIN THOSE DEALS AS WE TOUCHED UPON FOR MANY WEEKS HERE LOOKED LIKE THEY WERE IN TERMS OF GOING BACK TO THE EQUITY PUBLIC MARKETS WERE BASICALLY DEAD IT WAS ALL ABOUT LEVERAGE RECAPS ABOUT THE PRIVATE EQUITY OWNERS TAKING THEIR MONEY OUT THROUGH ISSUING DEBT AND PAYING THEMSELVES DIVIDENDS I THINK KATE THIS IS ALL A RESULT AS I SAID EARLY ON THE SUCCESS OF THE GM IPO WHILE IT WAS SUCCESSFUL TO THE GOVERNMENT IT WAS SUCCESSFUL TO GM AND IT WAS SUCCESSFUL FOR THE INVESTMENT BANK IT CREATED THIS STABILITY SO THAT EVEN THESE NONGROWTH LEVERAGED RECAPS THESE LBOS THESE VINTAGE DEALS CAN AT LEAST FIND A PLACE WITH CERTAIN INSTITUTIONAL OWNERS THE GM DEAL WAS BIGGER THAN GM
KELLY: YEAH NOW IF YOU LOOK AT THE TIMELINE OF THINGS IT IS KIND OF INTERESTING GARY A LOT OF THESE SPONSOR-LED DEALS LIKE THE ONES I JUST MENTIONED AND ALSO HCA WHICH FILED AN AMENDED S1 THIS MORNING CREATING SOME EXCITEMENT AROUND THAT THEY ALL FILED AROUND MAY OR JUNE OF THIS YEAR THINKING MAYBE THE MARKETS WERE GOING TO BE OPEN OVER THE SUMMER OR FALL NOW THEY HAVE ESSENTIALLY BEEN WAITING IN THE WINGS FOR ALL THIS TIME THEY'RE LOOKING TO EARLY 2011 THE QUESTION AS YOU RAISE IS GM AN EXCEPTION TO THE RULE OR DOES IT SHOW THAT THE MARKET FOR LARGE CAP IPOS IS OPEN AGAIN AND NOT JUST TO CHINESE AND TECH STORIES
KAMINSKY: AND WE'LL GET AN ANSWER TO THAT EARLY NEXT YEAR WHEN THESE DEALS WITH HAVE TO BE PRICED OR SHELVED PERMANENTLY BECAUSE YOU CAN NOT JUST KEEP REFILING...
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