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’Flowers: The decline of a dealmaker
It’s almost enough to make you wonder just how savvy those high-flying uber-deal makers of the 1990s and early 2000s really were — as opposed to how lucky.
Times change and so do the deals. But even with the chips down and the odds distinctly discouraging,
Ross, Icahn expect a commercial real estate crash
Carl Icahn is a busy man. On the same day he agreed a restructuring plan with constantly-on-the-verge-of-bankruptcy CIT, he told Bloomberg’s Tom Keene he quite concurred with Wilbur Ross’ earlier assessment of the outlook for commercial real estate in the US,
Ross bids to manage PPIP assets
Wilbur Ross, the billionaire investor, and his firm’s parent company, Invesco, are leading a consortium bidding to manage some of the US government’s $1,000bn in Public-Private Investment Programme assets.
Ross and Molson Coors eye Cobra
Wilbur Ross, the US investor, and Molson Coors, the brewer, have emerged as possible buyers for Cobra Beer as the sale process of the Indian-themed lager – created in the late 1980s to introduce UK drinkers to an ‘authentic’ Indian beer – draws near to a close.
Ross eyes US toxic assets fund
Billionaire investor Wilbur Ross said Tuesday he would invest in the US government’s private-public investment fund designed to help mop up banks’ troubled assets, provided that low-cost funding, as well as guarantees in sharing investment losses,
Ross and Carlyle eye BankUnited
Two leading forces in the investment industry, distressed asset investor Wilbur Ross and the Carlyle private equity group, are considering a joint bid for BankUnited Financial, a troubled Florida-based bank with $14bn in assets.
Ross buys Block unit for $1.1bn
Wilbur Ross, the billionaire investor, continued his foray into the troubled mortgage business when he agreed to buy H&R Block’s subprime home loan servicing division for $1.1bn. Ross, famed for buying and turning round distressed businesses,
For Wilbur Ross, Pimco, muni bonds are the way to go
Investor Wilbur Ross has purchased $1bn of US municipal bonds, a sign that some large investors are snapping up these investments after a recent selloff, reports the Wall Street Journal.
Ross wouldn’t comment on who sold the bonds to him but people familiar with the matter said he purchased the portfolio of bonds from hedge fund Duration Capital Management,
Wilbur Ross: The ‘vultures’ are stirring
Cash-rich financiers including Warren Buffett, Wilbur Ross and Ron Perelman are preparing to pounce on US companies hit by the financial turmoil – moves that could herald a new era of “vulture investing”.
The bond insurers, a $200bn problem and Wilbur Ross
In the midst of all that rogue trader excitement, we rather forgot about the poor old monolines, teetering on the brink of non-existence and generating noises about the kind of concerted bail-out effort not seen since LTCM.
Virgin frontrunner for Northern Rock
Sir Richard Branson’s Virgin group on Sunday night emerged as the preferred bidder for Northern Rock, reports the FT, having won favour with both the government and the bank itself. The Virgin consortium,
Hedge funds – ‘We don’t get out of bed for $10m’
It’s the hedge fund equivalent of Linda Evangelista’s infamous comment about supermodels not getting out of bed for less than $10,000 a day – a quip that was seen to epitomise the excesses of the late-80s.
Aim market is ‘dangerous’: Wilbur Ross
The billionaire US investor Wilbur Ross has warned that London’s AIM market is “dangerous” for investors because of its lower corporate governance standards. “I’m certainly not saying that Aim should be done away with,