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’Just rip ‘em off LLC
By way of a resuscitated campaign to have Ben Stein sacked from his various writing and promotion jobs, Felix Salmon at Reuters discusses a story about US consumers being deceived by dodgy online sign-up pitches and leads us to this: the relevant full blown staff report for Senate commerce committee chairman Jay Rockefeller.
Northrop agrees TASC sale
Northrop Grumman has agreed to sell TASC, its advisory services division, for $1.65bn to buy-out firms General Atlantic and KKR. The deal was viewed as a benchmark to gauge the health of the private equity industry and comes after this year’s biggest LBO – a $5.2bn deal for TPG Capital and Canada Pension Plan to buy IMS Health,
BofA to sell First Republic Bank
An investor group led by two buy-out firms, Colony Capital and General Atlantic, is buying First Republic Bank from Bank of America for more than $1bn. Colony and General Atlantic will each have 24.9% of the equity,
Dutch to sell Fortis tax arm
The arm of Belgian-Dutch group Fortis now owned by the Dutch government is pressing ahead with plans to sell Intertrust, a tax administration and structuring business. Several first-round offers have been made for Intertrust close to its €350m ($490m) asking price,
Xchanging set for £500m float value
General Atlantic, the US private equity group, is to raise about £85.5m through a flotation of Xchanging, the UK-based outsourcing and processing business that ranks as one of its largest European investments.
General Atlantic may float UK unit
General Atlantic, the US private equity firm, is considering an IPO of Xchanging, the UK-based outsourcing and processing business that ranks as one of its largest European investments. People familiar with the matter said Xchanging,
Auction of iSoft nearing conclusion
ISoft’s key NHS contractor is vetting at least three final-stage bidders as the sale of the beleaguered IT firm for about £200m draws near, reports the Times. It is understood that two American healthcare firms — Cerna and McKesson — and General Atlantic Partners,
NYSE and Goldman group take 20% of Mumbai’s NSE
The NYSE Group and Goldman Sachs are part of an investor group taking a 20 per cent stake in India’s biggest stock exchange. Along with General Atlantic, the private equity firm, and SoftBank Asian Infrastructure Fund,
General Atlantic bids $1.5bn for US logistics group EGL
General Atlantic, the US private equity firm, yesterday made a $1.5bn bid for EGL in conjunction with James Crane, the chief executive and largest shareholder of the US logistics group. GA, which specialises in investments in growth companies and is known for backing Lenovo,