Mr. Croman would walk through his office chanting, "buyouts, buyouts," court documents said.
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Most U.S. buyouts last year were of privately-held companies, while most buyouts in Europe were sponsor-to-sponsor.
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So for example, with Netflix, they do buyouts, long-term buyouts, relative to what you would get in syndication for various shows.
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Private equity buyouts of Canadian companies fell from 2014 levels, but 2015 represented the second best year for PE buyouts in the Canadian market since 2007.
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EXIT HURDLES Several other private equity buyouts have run into similar objections from Taiwanese regulators more recently, most notably a string of buyouts in the cable television industry.
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The staff has been offered buyouts and if a certain number of buyouts is not reached, layoffs will ensue for the editorial staff and potentially reporters as well.
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Fourteen people took voluntary buyouts at the legendary St. Louis Dispatch in March, following the paper's announcement in January that it would offer 15 buyouts and downsize offices.
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As a result, Wall Street bankers have been referring to the Ultimate Software, Ellie Mae and Scout 24 deals as equity buyouts, to distinguish them from the traditional leveraged buyouts.
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Increasing the coverage amount and clarifying that voluntary buyouts are available would simplify and shorten the buyout process, making buyouts a more viable option for residents of flood-prone areas.
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His corporate bio begins in evaluating risk for leveraged buyouts.
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Subordinated loans are used to upstream cash in European buyouts.
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But executives will still get those buyouts, Modern Healthcare reports.
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A good chunk is used to finance mergers and buyouts.
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Those 2,300 jobs will be cut through buyouts and layoffs.
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Moreover, buyouts are inherently risky for even the best dealmakers.
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Yet there will be probably no impact outside management buyouts.
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About $30 million of that is allocated to lease buyouts.
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In October, the company offered voluntary buyouts to 18,000 workers.
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It's unclear how many employees would be eligible for buyouts.
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Minority investors in Hong Kong are hard bargainers at buyouts.
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His corporate biography begins in evaluating risk for leveraged buyouts.
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JK: Vista is going exclusively for control buyouts, massive turnarounds.
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It offered buyouts to about 450 employees, not 450 reporters.
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Some will get buyouts; some will simply be laid off.
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There can also be warning signs in large-scale buyouts, such as those offered to 10,400 Verizon employees a few weeks ago or FedEx buyouts due to a slowdown in trade amid global trade disputes.
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Have they threatened rent hikes or pressured them to take buyouts?
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No cap hits, no buyouts, no re-signing anyone, no compensation.
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Those 2020 lockout compliance buyouts can't come fast enough in Minnesota.
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HONG KONG (Reuters Breakingviews) - Japan is finally warming up to buyouts.
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In 20.5, the surge was the result of enormous leveraged buyouts.
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TC: Getting back to buyouts, what type companies are you targeting?
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The company last month offered voluntary buyouts for 23,000 salaried workers.
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In February, Valparaiso announced it was offering buyouts to tenured professors.
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So should we be worried that this decision will change buyouts?
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Of course, not everybody wants to take buyouts in this economy.
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The mid-2000s were a boom for leveraged buyouts of retailers.
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Buyouts totaled $8 billion in the first nine months of 2015.
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The museum plans to freeze new hires and request voluntary buyouts.
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A few residents have died, and buyouts have lured away others.
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Buyouts of British companies are up nearly 150 percent this year.
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But homeowners can't apply for buyouts directly from the federal government.
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A portion of those employees are expected to accept voluntary buyouts.
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Building on their properties would require costly buyouts or court battles.
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A GROWING CONFLICT IN WALL ST. BUYOUTS | A new, insidious relationship has developed among private equity firms, the banks that lend them billions to fund their buyouts and the law firms that advise on these deals,
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The paper has offered buyouts and has warned staffers of possible layoffs.
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His portfolio investments ranged from pre-revenue start-ups to management buyouts.
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The book 'Investment Banking' covers valuation, leveraged buyouts, and mergers and acquisitions.
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The company was aiming for 22018,22019 voluntary buyouts, the company previously confirmed.
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Verizon today announced 10,400 employees are taking buyouts to leave the company.
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His efforts were supported through boycotts and illegal buyouts of Jewish businesses.
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First, debt-funded buyouts can actually make their debt burdens more tolerable.
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As with previous buyouts, the company can accept or deny buyout applications.
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Blackstone grew from leveraged buyouts into real estate, hedge funds, and credit.
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I have been researching and writing about buyouts for half a decade.
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FEMA does finance buyouts but it spends vastly more to rebuild properties.
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Employment rises 13% in buyouts of privately held companies (non PE-backed).
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And three private equity buyouts over the three years topped $1 billion.
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Legacy retailers have been popular targets for leveraged buyouts for years now.
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In fact, they were actually impatient for state buyouts of their properties.
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FMC has transformed itself into a major crop chemicals producer through buyouts.
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McClatchy offered buyouts to 2225 percent of its staff, about 21 employees.
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The EPA has set aside $12 million for buyouts and early retirement packages.
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There has been a lot of competition among investors for buyouts, he said.
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Separately, UPS is offering management buyouts in an effort to cut payroll costs.
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When it comes to buyouts, boring, reliable and trustworthy are the big draws.
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Could this be the case that extends liability to the lawyers in buyouts?
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The Museum of Modern Art and the Brooklyn Museum also recently announced buyouts.
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But he said by offering buyouts now will help the company improve productivity.
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Private equity buyouts have become viable exit options — even for early-stage startups
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As a result, federally funded buyouts have usually been voluntary; residents could decline.
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Randall Behm was head of the committee within the Corps that studies buyouts.
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A wave of buyouts has collapsed in recent weeks, felled by digital competition.
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Equity buyouts still account for only a small fraction of private equity dealmaking.
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Leveraged buyouts are more leveraged than ever before, and junk bonds are junkier.
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Still, this is not the way multibillion-dollar leveraged buyouts are typically announced.
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"You could design a more cumbersome, complex process for buyouts," Mr. Moore said.
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Even private equity-backed buyouts are down, despite the prevalence of cheap borrowing.
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We'll do growth buyouts but the vast majority will be significant minority positions.
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Most importantly, the buyouts are rarely accompanied by a coherent land use plan.
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Leveraged buyouts typically use debt for two-thirds, or more of the purchase price.
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Antitrust authorities have challenged agreements ranging from oilfield services mergers to health insurance buyouts.
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The first quarter of 2018 saw 29% of buyouts with leverage above 7.0 times.
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Based in London, BC Partners focuses on buyouts in Europe and the United States.
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Employees in Texas and elsewhere have been offered buyouts as part of budget cuts.
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The move comes after some spectacular failures in traditional leveraged buyouts of energy companies.
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Layoffs happened two months later because The Times did not receive enough voluntary buyouts.
|
|
However, its founders are not expecting to do traditional private-equity-style leveraged buyouts.
|
|
In July, the Met announced that more than 50 staff members had taken buyouts.
|
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Still, when it comes to buyouts, the track record of most companies is poor.
|
|
But now the Federal Emergency Management Agency is considering changing the rules on buyouts.
|
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She has shed hundreds of regulations, and hundreds of staff through attrition and buyouts.
|
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Last week saw company-wide buyouts of veteran staff members across the Tribune's papers.
|
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The data show that buyouts were disproportionately concentrated in wealthy and densely populated counties.
|
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Publications like Buzzfeed, Vice, and Huffington Post all underwent layoffs and buyouts this year.
|
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On Tuesday, UPS said it expects annual savings of around $200 million from employee buyouts.
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A deal for Arconic would be one of the largest leveraged buyouts of the year.
|
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Corporate buyouts in Asia, a market famous for growth investments, are also on the rise.
|
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Credit markets remained wide open, favoring not just big corporate deals but also leveraged buyouts.
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Delaware judges had used deal price in appraisals involving the closely watched buyouts of Ancestry.
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It would be the largest fund raised since the financial crisis by a buyouts firm.
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What's more, there's a "significant tax consequence" to accepting one of these buyouts, he said.
|
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Instead the cuts would be achieved through attrition, voluntary buyouts and the current hiring freeze.
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But starting in 2014, United offered voluntary buyouts that more than 2,500 employees have accepted.
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This would discourage some debt-fueled buyouts, and private equity firms are screaming about it.
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The company did not immediately respond to The Hill's request for comment on the buyouts.
|
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In 2014, around 70 percent of funds went on buyouts of more than $250 million.
|
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The loans are typically used for leveraged buyouts and are seldom seen in Silicon Valley.
|
|
When the residents didn't accept the paltry buyouts he offered, he took them to court.
|
|
To explain leveraged buyouts in easier-to-understand terms, let's say you buy a house.
|
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This month, the company asked journalists at newspapers across the country to volunteer for buyouts.
|
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A return to profit requires productivity measures far beyond the agreed buyouts, PSA executives maintain.
|
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This is despite not getting the majority stake typically afforded private equity firms in buyouts.
|
|
Who stays here: Well-funded business travelers and companies, including those who book full buyouts.
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"Private equity buyouts are a force pushing the other direction against the headwinds," he said.
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Private equity constituted less than 3 percent of public buyouts in 2016, according to Dealogic.
|
|
A string of leveraged buyouts have left a legacy of bankruptcies and low-trading bonds.
|
|
Of the 14,000 job cuts, 2,250 workers have already taken voluntary buyouts, according to the company.
|
|
About 2,250 people have already taken the voluntary buyouts, not 4,000, said spokeswoman Juli Huston-Rough.
|
|
E&E reports it's likely a second round of buyouts and layoffs will come next year.
|
|
Private equity firms also sought a bit more creativity, as valuations for potential buyouts remained high.
|
|
Another co-founder is Jim Davison, who earlier launched Silver Lake, the largest technology buyouts firm.
|
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Some buyouts and layoffs have already occurred, according to an email sent to employees by Hackett.
|
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Some 1,500 employees opted for voluntary buyouts, which occurred in November 2018, according to a spokesperson.
|
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But just because people agree to buyouts or to retire doesn't mean cuts will be easy.
|
|
Kido was previously at Simplex Holdings Inc, where he headed operations for leveraged and secondary buyouts.
|
|
Most of the job cuts, expected to save $500 million, will come from early retirement buyouts.
|
|
The flurry of takeovers and leveraged buyouts that had flourished all year began to dry up.
|
|
Last year was a record for buyouts, with $2.2 trillion worth occurring in the United States.
|
|
At Goldman Sachs, CEO David Solomon is offering buyouts to cull the bank's herd of partners.
|
|
Maloney's legislation would also prevent companies from deducting buyouts of employees ousted over sexual misconduct allegations.
|
|
We may see more leverage-funded buyouts from India with local financing from the debt market.
|
|
General Motors is offering buyouts to salaried workers to help cut costs, Dow Jones reported Wednesday.
|
|
Now the international consulting titan has some hometown heroes to get them into the best buyouts.
|
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Buyouts may replace IPOs as the exit of choice for tech companies in the coming months.
|
|
Many have been burned by big bets on leveraged buyouts that resulted in restructuring or bankruptcy.
|
|
After Harvey, more than 3,500 people applied to the Harris County Flood Control District for buyouts.
|
|
She has shed hundreds of regulations, and hundreds of staff members through attrition and voluntary buyouts.
|
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PSA Group, which makes Peugeot and Citroën cars, will offer 1,300 voluntary buyouts to older workers.
|
|
"Buyouts require resources and capacity to administer," said Caroline M. Kraan, another of the study's authors.
|
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Tribune Publishing offered buyouts last month to employees who have worked for eight or more years.
|
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More than 20 staffers also took buyouts or were laid off in 2016, according to Westword.
|
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Small buyouts are less economically efficient than larger ones and may result in patchy property removal.
|
|
Apollo Global Management just accumulated the largest single pool of capital earmarked for buyouts, $23.5 billion.
|
|
Casper CEO&aposs obsession with a $1 billion &aposunicorn&apos valuation reportedly derailed 3 potential buyouts.
|
|
Most leveraged buyouts these days involve an equity check for about 40 percent of the value.
|
|
The funds continue to raise billions of dollars, but their share of public buyouts has fallen.
|
|
There were buyouts and layoffs; the digital staff he built up had to be pared down.
|
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The deal aims to protect these workers with job retraining, buyouts, and investments in their communities.
|
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The NFIP bill includes language that would make voluntary buyouts an eligible activity for ICC coverage.
|
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For a graphic showing the volume of leveraged buyouts and private equity's war chest, see tmsnrt.
|
|
And there is no question that some of the "leverage" will come out of leveraged buyouts.
|
|
A recent academic study by researchers from the University of Chicago, Harvard Business School and other institutions found mixed results of private equity takeovers — significant job losses following buyouts of companies traded on public stock markets but an uptick in employment after buyouts of privately held companies.
|
|
Our thought bubble: Private equity is the polite term for what used to be called leveraged buyouts.
|
|
The layoffs affect approximately 800 employees of the Verizon division, and follow company-wide buyouts in December.
|
|
The company previously tried thinning its ranks through buyouts offered to some 37.653,000 eligible employees in October.
|
|
That began to end in 2014, when United offered voluntary buyouts that more than 2,500 employees accepted.
|
|
Over the past year, more than 700 EPA employees have quit their jobs or taken retirement buyouts.
|
|
A company spokesman said 1,500 of the 2,300 U.S. job cuts were voluntary buyouts from last year.
|
|
When private equity buyouts go well, they can help a company cut operations costs to maximize profits.
|
|
Apollo Global Management just accumulated the largest single pool of capital earmarked for buyouts, at $230 billion.
|
|
USA Today compiled compensation information for the top-earning NCAA coaches in 2018, including bonuses and buyouts.
|
|
In 2013, when the paper last offered buyouts, more than 60 employees accepted the offer, he said.
|
|
Europe's leveraged loan market is on fire, with enough cash to fund a number of jumbo buyouts.
|
|
The reductions have come from employees voluntarily leaving without being replaced, including through early retirements and buyouts.
|
|
The buyouts are part of a plan to cut costs and shift investments into wireless and 5G.
|
|
Earlier this year, the museum offered buyouts to staff members in the face of a budget deficit.
|
|
The same is true of people who took buyouts rather than getting laid off against their wills.
|
|
"Companies shouldn't be able to use these buyouts as a way to lower their taxes," Maloney said.
|
|
The Journal on Friday announced the unusual move of making voluntary buyouts available to all editorial employees.
|
|
Some 3,636 residents have applied for the buyouts, Harris County Flood Control District spokeswoman Karen Hastings said.
|
|
GM cut about 1,500 contract workers in December and said 2,300 salaried workers accepted buyouts, officials said.
|
|
More survey results: 62% believe too much money is chasing too few deals in North American buyouts.
|
|
It is unclear if Welsh Carson, which primarily does buyouts, has acquired a majority stake or not.
|
|
Finally, familiarity can breed buyouts, as some of Blackstone's portfolio companies, such as Hilton, were already customers.
|
|
Other buyouts include Meetup (a story broken by Crunchbase News in November 2017) reportedly for $200 million.
|
|
Earlier this year, the company announced its attempt to get more than 3,000 employees to take buyouts.
|
|
In 2018, our union was able to negotiate the layoffs many of my colleagues faced into buyouts.
|
|
The agency funded more than 29,2000 individual buyouts between 275 and 215, many of those in Iowa.
|
|
Workers who have not already moved to other plants will be offered buyouts and early retirement deals.
|
|
The staff had anticipated the announcement of buyouts for months, one of several sources of looming uncertainty.
|
|
The various labor unions representing employees across the company's newsrooms tweeted statements about the buyouts on Monday.
|
|
The reductions have come from employees voluntarily leaving without being replaced, including through early retirements and buyouts.
|
|
Most private equity firms, though, are unable to underwrite and sell debt for their own leveraged buyouts.
|
|
In a market that has been inhospitable to leveraged buyouts, the ADT deal is the largest in 2016.
|
|
Venture capital exits hit $120 billion — a 33 percent increase from 2017, largely thanks to IPOs and buyouts.
|
|
Unions representing government workers are evaluating Trump's budget promises from afar, concerned they will mean layoffs and buyouts.
|
|
The ex-cop also allegedly called buyouts a "team sport" in a text message to a property manager.
|
|
Banks also are lending fewer of the riskiest junk-rated loans that fund buyouts, further tightening financing conditions.
|
|
In fact, buyouts of flood-prone properties have become an important way to mitigate damage across the country.
|
|
Private equity firms acquired both Payless and Nine West in leveraged buyouts that burdened them with heavy debtloads.
|
|
Banks are also lending fewer of the riskiest junk-rated loans that fund buyouts, further tightening financing conditions.
|
|
Elsewhere, firms seeking expansion might opt for control buyouts to quickly offset the impact of the slowing economy.
|
|
In December, the carmaker began offering buyouts to staff after it received no orders for 2019, they said.
|
|
The machinists know circulation is down, they know they've lost coworkers due to buyouts and downsizing-by-attrition.
|
|
Deals with leverage above 7.0 times make up 26.4% of leveraged buyouts this year, according to LPC data.
|
|
This is the highest level since 2007 when 28.4% of buyouts had leverage of greater than 7.0 times.
|
|
Unlike rivals Bain and KKR, Blackstone has so far focused on Japanese real estate and not corporate buyouts.
|
|
It is true that some of the new regulation has taken banks out of financing leveraged buyouts directly.
|
|
The EPA and other federal agencies have offered buyouts to employees from time to time in the past.
|
|
It comes as buyouts and layoffs loom for the Times, a topic not touched on in the report.
|
|
Flannery, who joined GE Capital in 1987, focused on leveraged buyouts and later led the corporate restructuring group.
|
|
Buyouts can also be extremely lucrative for the sellers, as it was for the fledgling Instagram in 2012.
|
|
The Times expects to take a severance charge next quarter of about $11 million resulting from the buyouts.
|
|
Barclays has made a big push to win more sponsors work, focusing on financing buyouts and related deals.
|
|
The groom, 28, is an associate specializing in buyouts at Partners Group, an investment firm in New York.
|
|
Targets will include both private and public businesses, as well as private equity, buyouts and long-term stakes.
|
|
About 70 Times employees took buyouts this year, and the company is considering other areas of cost-cutting.
|
|
Buyouts are the only adaptive strategy we have that enables people to get out of harm's way, forever.
|
|
Leveraged buyouts in the technology sector averaged 7.5 times EBITDA in 2018, according to financial data provider Refinitiv.
|
|
Staffers protested the decision and Tribune Publishing has already offered a round of buyouts to employees this year.
|
|
Last month, the company asked journalists at its nine news organizations across the country to volunteer for buyouts.
|
|
There were only two U.S. leveraged buyouts with a private equity minority stake last year, according to Dealogic.
|
|
Total leverage on broadly syndicated large buyouts averaged 6.39 times total debt to Ebitda in the second quarter.
|
|
Headcount may fall further due to "natural" turnover and buyouts which VW has not yet offered, Blessing said.
|
|
Last week, JetBlue announced an unspecified number of layoffs and buyouts, mostly affecting its Long Island City headquarters.
|
|
Buyouts often rely on growing EBITDA, but in this case merely stopping the decline would be an achievement.
|
|
It recommended that the government restructure the program with incentives to encourage owners to take buyouts and move.
|
|
Here's one example of the local impact: "More than half a dozen marquee reporters at The Kansas City Star have accepted buyouts from the newspaper's parent company," KCUR's Dan Margolies wrote... "Between them, the employees accepting the buyouts have well over 200 years of combined experience at The Star."s
|
|
In the meantime, budgets for research the EPA have been slashed, and much of the staff is taking buyouts.
|
|
Companies are, of course, tapping the torrid demand for floating-rate loans, often to finance mergers and leveraged buyouts.
|
|
The firm is known for putting together leveraged buyouts in the technology sector rather than providing investment banking advice.
|
|
The halt of management buyouts amid the controversy of state asset losses turned around the reform process in 2005.
|
|
General Motors executives painted a bleak outlook of the global economy in offering buyouts to 25,2750 employees last month.
|
|
Some private equity firms opted for private investment in public equities, or PIPEs, in lieu of large leveraged buyouts.
|
|
In the midst of a supply glut that's keeping prices low, the case for more buyouts gets even weaker.
|
|
Quebec officials have encouraged flooded property owners to take buyouts, to break the cycle of flood-bailout-rebuild, repeat.
|
|
Among the few deals in the pipeline are financings backing the buyouts of Maxim Crane and Dell's software business.
|
|
The Brooklyn Museum offered voluntary buyouts to its employees in a bid to tackle its $3 million budget deficit.
|
|
According to Huffington Post reporter Dave Jamieson, GM has set aside $2 billion to pay for layoffs and buyouts.
|
|
For the ten largest private equity buyouts, three have hit bankruptcy, and two more were teetering on the verge.
|
|
Private equity buyouts are backed by substantial equity cheques, interest coverage ratios are healthy, and default rates are low.
|
|
The move is representative of a comeback in leveraged buyouts for one of the world's largest private equity firms.
|
|
Warnings from state regulators about the dangers and downsides of foreign buyouts have gathered pace over the past year.
|
|
Beyond the big global banks, private equity firms that specialize in leveraged buyouts are also worried about this idea.
|
|
Interior to Offer Buyouts to Employees Tapped for Relocation, As Some Already Head for the Exits, Government Executive reports.
|
|
"The perception of buyouts is that it's all financial engineering," says Joseph Baratta, head of the private equity group.
|
|
The roles played by investment banks in billion-dollar buyouts have lately come under fire in the Delaware courts.
|
|
The deal would also be notable for potentially marking the return of private equity buyouts of publicly traded restaurants.
|
|
On May 6 it was reported that more than 100 employees at CNN took buyouts amid corporate restructuring efforts.
|
|
In any case, management buyouts are rare these days; only two were proposed in 2015, according to Factset MergerMetrics.
|
|
He also said that a workforce reduction would be completed without firings, relying on attrition and possibly incentivized buyouts.
|
|
The case applied to the Lyondell case and other leveraged buyouts equally, at least those litigated in New York.
|
|
And of course, this will affect future buyouts, possibly making it harder for private equity firms to buy companies.
|
|
The hope is that if enough workers take the buyouts, the automaker will not have to resort to layoffs.
|
|
That division was sold for $45 million to Arlington Capital Partners, a private equity firm that specializes in buyouts.
|
|
In August, US$16.8bn of new money loans were completed, of which US$11.2bn, or 66.7%, backed leveraged buyouts.
|
|
Why it's a big deal: Mega-buyouts are back, regardless of sector, geography or record-high public equity prices.
|
|
Last year, the league offered buyouts to employees at its headquarters, and roughly a dozen people took the offer.
|
|
Employees at East Bay Times, a Pulitzer Prize-winning daily in Northern California, are taking buyouts and facing layoffs.
|
|
After record-setting floods devastated the Midwest in 1993, many on Grafton's waterfront accepted federal buyouts for their homes.
|
|
These buyouts burden retailers with high debt and interest that they later have to pay, making them less profitable.
|
|
The transition to a slimmer paper will be aided by a round of buyouts the Journal announced last month.
|
|
Tillerson is offering $25,000 buyouts to encourage around 2,000 diplomats to leave the department by October of next year.
|
|
And an additional 170 teachers in the pool took buyouts earlier this year, saving the city about $23 million.
|
|
CLOs pool leveraged loans, which are used to back buyouts, that pay the fund a set spread over Libor.
|
|
The departures -- which totaled more than 700 employees, including more than 200 scientists -- included buyouts, retirements and individuals quitting.
|
|
That supports the idea behind a raft of recent buyouts: that foreign investors seriously under-appreciated many Chinese companies.
|
|
High U.S. tax rates, coupled with this global U.S. tax reach, are one reason for the boom in buyouts.
|
|
Her responsibilities as deputy managing editor included staffing, career development and, several times in recent years, buyouts and layoffs.
|
|
An earlier version of this article misstated the scope of the buyouts the publishing company McClatchy offered its staff.
|
|
So this doesn't necessarily swing the door open for leveraged buyouts, but at least may prime the pump a bit.
|
|
That is nearly half the purchase price including debt, a higher proportion than has been historically used in leveraged buyouts.
|
|
As a result, the company is offering buyouts to editors and reporters to funnel more resources to the remaining staff.
|
|
Following the acquisition of LocalEyes, Pagano said the company is looking to expand aggressively and this could include further buyouts.
|
|
About 18,000 of the company's 50,000 salaried employees in North America are eligible for the buyouts, the company spokesman said.
|
|
The Journal also offered buyouts to all employees in its news division, according to an internal memo obtained by CNBC.
|
|
This stands in sharp contrast to the U.S. where appetite for large scale buyouts by private equity has been robust.
|
|
Check out which companies are making headlines before the bell: General Motors — The automaker is offering buyouts to Cadillac dealers.
|
|
Dealmaking by private equity firms soared to $136 billion, almost an all-time high, as cheap debt fueled leveraged buyouts.
|
|
FedEx has shaken up management - including at its Express division - offered voluntary buyouts and limited discretionary spending to stem declines.
|
|
FedEx has shaken up management, including at its Express division, offered voluntary buyouts and limited discretionary spending to stem declines.
|
|
Programmers are now supporting those handling equity underwriting, leveraged buyouts and deals within the financial services and real estate sectors.
|
|
A spokeswoman for Dow Jones declined to comment on how many employees requested buyouts or how many layoffs were expected.
|
|
If private equity firms succeed in acquiring Zayo, it would represent one of the largest leveraged buyouts of the year.
|
|
Carlyle's latest fund will combine buyout and growth opportunities, one of the people said, with the bulk going to buyouts.
|
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CNN obtained an internal report in April outlining a plan to reduce the EPA workforce through buyouts and early retirement.
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The doctrine has had a rebirth in the wake of the financial crisis, with a particular vengeance for leveraged buyouts.
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Salomon also fell behind Drexel Burnham and other firms brokering the lucrative boom in leveraged buyouts and hostile corporate takeovers.
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To put that in perspective, in 220006, the agency offered buyouts totaling $2202 million and 2628 people left the agency.
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"We might think about expanding our foothold overseas or corporate buyouts," a manager at a wholesaler wrote in the survey.
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The New York Times recently went through buyouts and has acknowledged that its newsroom will get even smaller next year.
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KKR's takeover of Envision for US$9.9bn last September was one of the largest leveraged buyouts since the financial crisis.
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In some cases, these buyouts saddled retailers with an immense amount of debt that they were incapable of paying off.
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Some landlords are offering tenants cash buyouts to vacate their stabilized apartments so units can be combined, according to lawyers.
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Now, you just said in a public market buyouts have lost -- have they lost value to those points you're making?
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Brookfield has also purchased mall REIT General Growth Partners for a total of $27.5 billion in cash and stock buyouts.
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Many also complain that the copy desk is down almost 20 percent because of buyouts and in-house staff moves.
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The legislation would include language requiring the repeal of water jurisdiction regulations and include funding for buyouts at the agency.
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The town leadership rejected taking buyouts at that time and instead chose to rebuild the town and fix the levee.
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The Washington Examiner said Boeing has terminated more than 9,000 employees over the past year, mainly through buyouts and retirements.
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It is not uncommon for boards evaluating management buyouts to reject the first bid tabled, in order to demonstrate impartiality.
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Mike Milken gave buyouts a bad name in the 1980s, and Warren is betting that private equity is similarly unloved today.
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Not only for take-privates, but also secondary buyouts in which companies are sold from one private equity firm to another.
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Funding later-stage investments or buyouts like SoftBank is doing is much more expensive, but won't likely yield returns like that.
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The mutinies have stopped for now following multi-million dollar payments and buyouts that have cut the size of the army.
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In an effort to cut costs, the company is in the process of shedding about 4.53 staff members through voluntary buyouts.
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With help from the Federal Emergency Management Agency, residents took buyouts of their properties and began to plot their move uphill.
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As part of Administrator Scott Pruitt's strategy to cut the agency's budget, more than 1,200 staff were offered buyouts last year.
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Meanwhile, The New York Times announced last Wednesday it would be offering buyouts, while The Telegraph announced layoffs the week prior.
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One source with knowledge of the matter said that around 180 employees of the 3,000 eligible workforce had already taken buyouts.
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In addition, by buying a stake of less than 30%, VTB avoided a legal obligation to offer buyouts to minority shareholders.
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Leverage for buyouts has climbed to 6.5 times, the highest level since 2014 when cov-lite issuance hit its previous peak.
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In October, GM offered voluntary buyouts to 18,000 salaried employees in North America who have at least 12 years of experience.
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T, for 13 billion yen ($1.35 billion) in one of the largest buyouts in Japan this year, it said on Monday.
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The rise of loan-only deals means that senior leverage is making up a higher proportion of total leverage in buyouts.
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Private equity: The number of PE-backed buyouts was flat, but the value of those deals rose nearly 25% over 2016.
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The Sterling Group is a Texas private equity firm that has focused on mid-market buyouts for more than 30 years.
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According to the New York Times, the museum stated that the buyouts were the result of MoMA's upcoming expansion and renovation.
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But some brave companies will still be willing to do kickoff mergers and buyouts, given that the economic conditions are ripe.
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The cuts are part of an overall belt tightening at EPA that includes thousands of employee buyouts and ending numerous programs.
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With prices weak and other energy companies under pressure, the conditions are ideal for Exxon to pursue strategic buyouts, he added.
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It did not give a dollar figure for the buyouts or say how many employees it hoped would take the offer.
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Consolidation will result in fewer labs and the loss of the skills of employees who will not transfer or accept buyouts.
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" In an interview, Mr. Baquet characterized the buyouts as "a big step toward building The New York Times of the future.
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Leveraged loans provide financing to back buyouts including the purchase of security systems company ADT by Apollo Global Management in February.
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Government buyouts were able to relocate many people, but another major storm could bring the same or worse levels of devastation.
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For his part, Kvaal believes it unlikely Apple will make a big acquisition, citing its history of avoiding large-scale buyouts.
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The Securities and Exchange Commission can and should police the designed-to-fail corporate bonds that proceed from these leveraged buyouts.
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Now that investors can earn yields of nearly 5 percent from companies deemed investment grade, junk-fuelled buyouts will get harder.
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He has moved to downsize the EPA, leaving hundreds of positions unfilled through a combination of buyouts, resignations and hiring freezes.
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But there could be longer-term consequences for future buyouts, possibly making it harder for private equity firms to buy companies.
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If the private equity firms succeed in acquiring Zayo, it would represent one of the largest leveraged buyouts of the year.
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Insight Ventures is best known for making investments in startups and growth-stage companies, but has also participated in buyouts before.
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Without using eminent domain, officials said, the Corps can't guarantee to Congress that the buyouts lawmakers have funded will actually happen.
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Most of these retailers are also owned by private equity firms which, as Forbes reports, use leveraged buyouts to purchase companies.
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But under earlier buyouts, Mr. Kavlock said, the agency later hired nearly 2465 postdoctoral candidates to help continue critical agency work.
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Bust is a rarity, having kept its cult following while staying afloat in a media sea of bankruptcies, mergers and buyouts.
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As news spread on Wednesday that The Times had offered buyouts targeted at editors, some readers fretted that coverage would suffer.
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Tribune's chain of newspapers is currently undergoing yet another round of voluntary buyouts in an attempt to stave off further layoffs.
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And so we started in big buyouts because in the age of data, basically, that was an interesting place to be.
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His landlord, Raphael Toledano, failed to pay 26 tenants their promised buyouts as his fledgling real estate empire, Brookhill Properties, faltered.
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To deal with a budget deficit of about $3 million, the museum has undergone two rounds of buyouts and halted acquisitions.
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Local TV stations are prime targets for private equity buyouts because they are reliable cash generators that require little capital expenditure.
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The State Department is reportedly prepared to extend buyouts of $85033,000 to diplomats and other employees who want to retire early.
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This isn't Warren's first jab at private equity firms, which she has likened to "vampires" over their use of leveraged buyouts.
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Many that filed for bankruptcy, like Gymboree, did so because of debt as a result of private equity buyouts years earlier.
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Sometimes, in best-case scenarios for employees, unions can help avoid layoffs altogether by negotiating organizational restructuring or voluntary buyouts instead.
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For most of the last year, the Times offered buyouts to employees, in part to make room for new, digitally focused journalists.
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Toys 'R' Us's demise has prompted scrutiny over a string of leveraged buyouts that permeated the retail industry in the mid-aughts.
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Catterton was founded in 1989 and has grown to $5.5 billion in equity capital to deploy through leveraged buyouts and growth investments.
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The Journal offered all employees in its news division the option to take buyouts, according to an internal memo obtained by CNBC.
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Her departure comes after 80 employees took voluntary buyouts late last year, at a projected cost to Sotheby's of about $40 million.
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Prior to McKinsey, Anoushka worked at Goldman Sachs and advised companies on mergers and acquisitions, leveraged buyouts and debt and equity offerings.
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Nearly 140 private companies working to advance AI technology have been acquired since 2011, including 40 buyouts just this year, CB noted.
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Buyouts of companies in Europe hit a 12-year high in April, with almost half going into listed companies, Refinitiv data shows.
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The Museum of Modern Art (MoMA) offered voluntary buyouts to employees aged 55 or older with at least nine years of service.
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Embraer said it opened the second round of buyouts to engineers, secretaries and mid-level technicians at the request of their unions.
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The Environmental Protection Agency (EPA) is setting aside $12 million to pay for employee buyouts, officials wrote in a memo this week.
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Verizon on Monday announced that it had approved voluntary buyouts for roughly 28503,22019 employees, or about 7 percent of its total workforce.
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The buyouts come with up to 60 weeks of severance pay, including bonuses and benefits, depending on time spent with the company.
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The museum has offered voluntary buyouts to employees 55 or older with at least nine years of service as of July 31.
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Total leverage for large U.S. corporate buyouts in 2015 was 20133 times compared to 6.18 times in 2013, according to the data.
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Humana employs 85033,600 people nationwide, but late last year announced layoffs and buyouts of 2,700 employees in an effort to trim costs.
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About 6,000 full-time jobs have been cut through voluntary buyouts, equivalent to nearly one-quarter of its work force in Japan.
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After Hurricane Sandy, about 80 percent of the residents of the Oakwood Beach neighborhood in Staten Island took government buyouts to leave.
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Moreover, The Times has faced lawsuits for supposedly pushing out minorities amid buyouts and layoffs as a result of restructuring business goals.
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At The Wall Street Journal, employees say anxiety in the newsroom has been particularly high since buyouts were announced in mid-October.
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"It's going to create a really big political backlash," said A.R. Siders, a professor at the University of Delaware who studies buyouts.
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In the last several months, it has eliminated its copy desk, offered buyouts to employees and reorganized the structure of its newsroom.
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The E.P.A. offered two major buyouts during the Obama administration, losing 900 employees in 2013 and an additional 465 the following year.
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But all cases, even vexatious ones, tie up resources at media outlets already struggling with collapsing circulation, disappearing advertising and costly buyouts.
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Mr. Li's $860 million takeover of Milan was the biggest among a number of Chinese buyouts in global soccer in recent years.
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The museum has cut back its special exhibitions to about 45 from about 60 and reduced its staff through buyouts and layoffs.
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Though the Pacific Junction residents who have remained in the area have been vocal about wanting buyouts, they can't do it alone.
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It is difficult to determine which of these will be actionable, not least because obtaining debt finance for buyouts could be challenging.
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The paper found that while most buyouts take place in areas with high flood risk, that wasn't the only factor at play.
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The Times would turn to layoffs if not enough people volunteer for buyouts, Mr. Baquet and Mr. Kahn said in the memo.
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And thanks to some canny buyouts and years of ruthless competition, the vast majority of that work is now done by Syniverse.
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"I sense there are some even larger leveraged buyouts to come in the next 12 months," a second private equity partner said.
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The government could use savings from a hiring freeze for upfront costly reductions in the workforce, such as buyouts or severance packages.
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Guardian U.S. executives have not yet determined how many people are taking buyouts, but the staff expects that layoffs will be necessary.
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Last summer, the L.L.C.s that owned the buildings in the Madison Realty portfolio went into default and Madison stopped funding the buyouts.
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David Maurstad, who heads the National Flood Insurance Program, said buyouts were the most permanent way to mitigate against future flood hazards.
|
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Those effort stalled over financing skittishness, amid a bubbling number of bankrupt leveraged buyouts and general uncertainty over the future of retail.
|
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At the same time, buyouts and layoffs, along with a significant reorganization of the print newspaper, have heightened uncertainty in the newsroom.
|
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That effort stalled over financing skittishness, amid a bubbling number of bankrupt leveraged buyouts and general uncertainty over the future of retail.
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Why it matters: This is one of the largest drug company buyouts ever, combining two firms that are making a lot of money.
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On Tuesday, FedEx said it was cutting its 2019 earnings guidance, offering buyouts and reducing international capacity because of more sluggish global trade.
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The departures are largely longtime staff who are at or near retirement age and have accepted recent buyouts or left on their own.
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Editor-in-chief Gerard Baker said in the memo that the paper was "seeking a substantial number of employees" to take the buyouts.
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GM is looking to cut the ranks of Cadillac dealers, offering 400 of them, or about 40 percent, buyouts worth up to $180,000.
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Ford informed employees last October that it would be restructuring the company, a move that would likely result in layoffs and voluntary buyouts.
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Why it matters: PR jobs have doubled in the past two decades, even as newsrooms shrink, deal with buyouts and sometimes disappear altogether.
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The paper said the cuts would come primarily through buyouts, with workers in the TV and movie studio groups notified on Monday. Questions?
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The Times could turn to layoffs if there are not enough volunteers for buyouts, Mr. Baquet and Mr. Kahn said in the memo.
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Acquisition prices in leveraged buyouts are rising on the back of increased competition for deals, setting off alarm bells among private equity backers.
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The paper also announced today that it is offering buyouts to editors in an attempt to increase the ratio of reporters to editors.
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But investors have shown increased resistance to aggressive terms in 2018, with the majority of deals backing buyouts having amended terms before pricing.
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In internal emails, company employees acknowledged that such suits would "aggravate" tenants or pressure them to accept buyouts, the attorney general's lawsuit said.
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This is the first round of buyouts offered since The Times announced in October 2014 that it would cut about 100 newsroom jobs.
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AAC Capital Partners Holding has 1.7 billion euros under management and two specialized investment funds, dedicated to mid-market buyouts in northwest Europe.
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The news of the sale follows weeks of layoffs and buyouts at several Univision-controlled publications, including The Onion and Gizmodo Media Group.
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AND FIRSTLY THE REPEAL OF THE DEDUCTIBILITY OF INTEREST EXPENSE, IS THAT NEGATIVE FOR LEVERAGE BUYOUTS AND THAT IS THAT NEGATIVE FOR BLACKSTONE?
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The Carlyle Group, which had built its reputation in corporate buyouts, collected several hedge funds only to effectively ditch the business in 2016.
|
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In 2006 alone, private equity firms spent $30 billion on leveraged buyouts of retailers — more than they had spent in total since 1998.
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For one, the era of record low borrowing costs is behind us, meaning the leverage piece of leveraged buyouts is getting more expensive.
|
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Despite the lack of longer-term pipeline opportunities, bankers are expecting a busy summer as several public-to-private buyouts reach the market.
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A plant in Steyr, Austria could be shut, the paper said, adding that cuts will be done by early retirement and voluntary buyouts.
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Then, in late 2014, the building sold to new owners, Mendel and Chananya Gold, who offered tenants buyouts to get them to leave.
|
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It passed tougher building codes, offered more buyouts for flood-prone homes and budgeted billions of dollars in new funding for flood control.
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It also finds significant differences based on the type of buyout: Employment falls 13% in buyouts of publicly traded companies, relative to controls.
|
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Elliott has participated in buyouts of smaller private companies such as Dell's software group but it is best known as an activist shareholder.
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But, generally, very little money has been lost, relatively speaking, on buyouts by banks, and so they're feeling fairly comfortable with the sponsors.
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The proposed buyouts would be on a voluntary basis, the report notes, and come as Secretary of State Rex TillersonRex Wayne TillersonState Dept.
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The Museum of Modern Art and the Brooklyn Museum, for example, also recently offered buyouts — though they did not then move to layoffs.
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The Web Summit crowd is just a tiny subset of overall private investing, which can include everything from infrastructure to buyouts to timberland.
|
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Li's $860 million takeover of A.C. Milan was the most expensive among a number of Chinese buyouts in global soccer in recent years.
|
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Finance and InvestingGoldman Sachs is offering buyouts to encourage partners to leave as CEO David Solomon works to shrink one of the most elite clubs on Wall StreetGoldman Sachs is offering buyouts to encourage partners to leave as CEO David Solomon looks to shrink the firm's most senior ranks and restore some exclusivity to one of Wall Street's most prestigious titles.
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Private equity-backed buyouts totalled $302.7 billion last year, up 16.7 percent, Thomson Reuters data showed, although the number of deals fell by seven.
|
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FedEx (FDX) will take a charge of as much as $575 million for voluntary buyouts, as it trims its employee ranks to reduce expenses.
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Vancouver newsrooms will also be merged, with as many as 50 voluntary buyouts to be offered in Vancouver and Ottawa starting in coming days.
|
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Altice, a holding company based in the Netherlands, has expanded rapidly through a series of debt-financed buyouts in the United States and Europe.
|
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In the early '90s, about 70 percent of firms backed by venture capitalists exited through IPOs, with the remainder taking buyouts from other firms.
|
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The prospects for stronger economic growth under a Donald Trump presidency has reignited hopes for a boost in debt-fueled acquisitions, including leveraged buyouts.
|
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In the background bankers are working on a number of new potential buyouts, including some public-to-privates, which could hit the market shortly.
|
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GM is allowing some employees who took the buyouts to leave as early as this coming Saturday with an official last day of Jan.
|
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The large fees connected to mergers and buyouts have changed corporations from institutions designed to make things to institutions designed to enrich the elite.
|
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Unlike in the past, when it would occasionally bid for majority stakes, the fund now has a dedicated team chasing buyouts of whole companies.
|
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Inspired by their success and driven by huge buyouts of smaller companies by China's Internet giants, investors have poured money into new start-ups.
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The shares would be nontransferable, except in the case of mergers or buyouts, but they otherwise would be treated just like any other shares.
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On the back of this interest, 2007% of leveraged buyouts were leveraged above 6.0 times during the first quarter, the highest level on record.
|
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During 2017, this number was 64.2%, which was also higher than even 2007 when 61.5% of buyouts had leverage of more than 6.0 times.
|
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The New York based-company said the severance charge was mainly due to the buyouts announced on Monday as well as other headcount reductions.
|
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Additionally, the EPA is planning to reduce its workforce through buyouts and an early retirement program, according to an internal memo obtained by CNN.
|
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Control buyouts reached 23 percent of all private equity deals in China last year, compared with 44 percent for the region, the data showed.
|
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That deal cleared the way to cutting 23,000 jobs at the VW brand in Germany via buyouts, early retirements and reducing part-time staff.
|
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After buyouts and retirements, that number could drop to 14,428 by October, the official, who spoke on condition of anonymity, said in an email.
|
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The buyouts are aimed primarily at editors, but reporters and others in the newsroom would be free to apply as well, the memo said.
|
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As CLOs are the biggest buyers of leveraged loans, this could leave less capital available to fund new leveraged buyouts or help companies refinance.
|
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Securitized products such as collateralized loan obligations also saw a huge drop in activity as did leveraged buyouts, according to data compiled by Refinitiv.
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Renters need to know they can turn down buyouts if they wish; landlords need to know they will be punished for breaking the law.
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Then I would give this a close look, especially given that I work in an industry where layoffs and buyouts are a regular occurrence.
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A study by myself and Matthew D. Cain found that paying closer attention to the process results in higher buyout prices in management buyouts.
|
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Newspaper giant Gannett reportedly laid off journalists across the US the same day that Verizon's layoffs were reported, following a round of voluntary buyouts.
|
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In the first five months of 2019, 803,000 journalists have been laid off or been offered buyouts — the worst level of attrition since 2009.
|
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The "just say no" defense was first raised in the 1980s, a time of hostile raiders and buyouts financed by Michael Milken's junk bonds.
|
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Separately, PE Hub's Buyouts Magazine reported Thursday, citing sources, that GE has hired Morgan Stanley to explore the sale of that healthcare IT division.
|
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The deal will be one of Temasek's rare buyouts at a time when it is seeking to boost its U.S. exposure in difficult markets.
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He said Blackstone saw opportunities in emerging economies, such as Greater China and India, as well as larger buyouts and in the energy sector.
|
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Take the private equity industry, in the crosshairs again thanks to failed leveraged buyouts like retailer Toys R Us, which went bankrupt in 230.
|
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The context: A deal would be one of the largest leveraged buyouts in recent years and another sign of a thaw in debt markets.
|
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It would be one of the biggest leveraged buyouts in recent years — but would give KKR ownership of a company facing lots of scrutiny.
|
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The insurance firm Willis Towers Watson estimated that about 200 businesses, including big companies like Sears and JCPenney, offered lump sum buyouts that year.
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She has spent a decade negotiating costly and acrimonious buyouts of minority family shareholders, while profits at LDC declined in increasingly tough agricultural markets.
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She has spent a decade negotiating costly and acrimonious buyouts of minority family shareholders, while profits at LDC declined in increasingly tough agricultural markets.
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"We aimed to reduce the number of involuntary departures by offering voluntary buyouts and by eliminating a number of open positions," McGraw told CNBC.
|
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That's also been true for companies going through leveraged buyouts, which often lose money while paying down the debt taken on for the deal.
|
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Around a third of all leveraged buyouts are expected to be worse off under the new tax system, according to Moody's Investors Service Inc.
|
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Only 10 leveraged buyouts have occurred so far this year, with none before ADT surpassing $1.5 billion in value, according to data compiled by Dealogic.
|
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A so-called Zappos exodus started with the company's adoption of Holacracy, and 18 percent of Zappos employees have taken buyouts in the last year.
|
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After this season, though, and the expected buyouts on various contracts, the Phillies will be clear of their commitments to Howard and catcher Carlos Ruiz.
|
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TOKYO, Nov 29 (Reuters) - Nomura Holdings Inc said on Wednesday it would start a new private equity business, aimed at restructurings, successions and management buyouts.
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The funds buy leveraged loans that back buyouts such as the purchase of Petco by CVC Capital Partners and the Canada Pension Plan Investment Board.
|
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High-yield issuance actually declined for the past four years, but the early 2017 boost seems partially reflective of a global increase in leveraged buyouts.
|
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The company was aiming for 8,000 voluntary buyouts among its salaried workers as part of a total headcount reduction of 4.83,000, spokesman Pat Morrissey confirmed.
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Information and technology-sector buyouts grew at 14 percent per year from 2009 to 2018, using PitchBook data – more than any other sector it tracks.
|
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The company said in a separate statement that it would consider layoffs after it sees the impact of the buyouts and other cost cutting efforts.
|
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The Wall Street Journal reported in November that it had raised $2 billion for private-equity style buyouts, citing unnamed sources familiar with the matter.
|
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While Pruitt was standing at the lectern, the EPA was reportedly offering buyouts to longtime employees to cut its workforce of scientists and policy specialists.
|
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"Unlike with buyouts by U.S. companies, ADR holders have little to no recourse to challenge low-ball offers," said Heng Ren Managing Partner Peter Halesworth.
|
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The Wall Street Journal is offering all employees in its news division the option to take buyouts, according to an internal memo obtained by CNBC.
|
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Kravis and Roberts, who are cousins, pioneered leveraged buyouts through the eponymous firm they created in 1976 alongside Kohlberg, with an initial investment of $13,000.
|
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Kravis and Roberts, who are cousins, pioneered leveraged buyouts through the eponymous firm they created in 373 alongside Kohlberg, with an initial investment of $120,000.
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Musk wrote that he expects about one-third of shareholders to take an offer of $420 per share, making the buyouts worth roughly $23.6 billion.
|
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In the 903s, when the herd buyouts ended and the dairy market stabilized, there was little need for the government to continue its cheese hoarding.
|
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The CSRC recently pledged to target "barbaric" leveraged buyouts and to restrict excessive fundraising by some listed companies, with a focus on private share placements.
|
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Poor secondary trading levels on these big buyouts, however, is proving to be another deterrent for investors and is continuing to push primary pricing higher.
|
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His hiring piqued the interest of several private equity firms because of his background with leverage buyouts, according to two people familiar with the matter.
|
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In 2000, the retailer hired Merrill Lynch to help explore strategic options from recapitalization to leveraged buyouts or mergers, ultimately striking a deal with Amazon.
|
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Leveraged buyouts allow investment firms to make large-sized acquisitions by using a more significant percentage of debt compared to the capital they put in.
|
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Employees at Gannett papers were already bracing themselves for a round of buyouts this month, and the company has endured its share of financial setbacks.
|
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To appeal to different institutional investors, Blackstone has created new products with different fees or holding periods as well ones that can go beyond buyouts.
|
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"I think leveraged buyouts to a degree are a giant case of insider trading," he said, referencing examples of public companies that then become private.
|
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The Bureau of Labor Statistics still counts "voluntary" buyouts as layoffs, so the Verizon employees will go in that category when they leave the company.
|
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The Times and ProPublica reported that the departures were buyouts, retirements and individuals quitting, but totaled more than 533 employees, including more than 200 scientists.
|
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In the first half of this year, twice as many middle market buyouts were financed by direct lenders versus traditional syndicated loans, LPC data shows.
|
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Officials wrote in a memo earlier this month that they were setting aside $12 million for employee buyouts as part of a workforce restructuring proposal.
|
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Private equity buyouts averaged just $22016 billion a year over the past decade, with $733 billion worth of exits annually, according to data provider Preqin.
|
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China, by comparison, had $15.8 billion of buyouts in 21 and raised $2108.8300 billion of funds, though its economy is not quite three times larger.
|
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Here's a list of the biggest e-commerce mergers, acquisitions and buyouts of all time, by deal size, according to data from research firm PitchBook.
|
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When Pimkie, a struggling fast-fashion chain whose parent company is profitable, sought hundreds of voluntary buyouts, unions and workers rejected the proposal as insufficient.
|
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According to Teamsters Local 814, which represents the art handlers, workers were eventually offered substantial buyouts, which the vast majority of veteran art handlers took.
|
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And we're only looking at venture rounds, so no post-IPO action, no grants, no secondaries, no debt, and no private equity-style buyouts. Ready?
|
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Since then, Mr. Jarvis said, some other tenants have taken buyouts, but he has no intention of leaving and has turned down several buyout offers.
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The buyouts are meant primarily for editors, but reporters and others in the newsroom will also be able to apply for them, the memo said.
|
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As of September, it was sitting on some US$954bn of dry powder - capital available for buyouts - a record high according to data provider Preqin.
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Mr. Baker said on Monday that about 200 people had taken buyouts or been laid off, but that there were no plans for further layoffs.
|
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Those actions include freezing the pension plan for current employees and offering lump-sum buyouts to retirees who have not yet begun to collect benefits.
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His off-the-record meeting with Guardian U.S. staff came just hours before the noon deadline for Guardian U.S. employees to apply for voluntary buyouts.
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There were nevertheless a number of large leveraged buyouts including the 2.02bn financing backing Hellman & Friedman's acquisition of a stake in Sweden's Securitas Direct Verisure.
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Andrew Puzder, the labor secretary pick, owns stock in his fast-food company, worth unknown millions after leading two private equity buyouts of the business.
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There could be also "buyouts" throughout the competition, which means people would forfeit their chance to win the car but would receive another prize instead.
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Lender protections eroded as private equity sponsors, attracted by the leverage on offer, tapped the loan market to fund buyouts –and cash out soon after.
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Under Curry, OCC bank examiners have clamped down on what they perceive as overly risky loans, particularly the type used to fund private equity buyouts.
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More new private equity buyouts could be seen particularly in sectors that could benefit from the change of administration which could encourage M&A activity.
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"You have to understand the leverage that you have," said David Rozenholc, a Manhattan lawyer who has won seven- and eight-figure buyouts for tenants.
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Programs fall apart; the center cannot hold; overpaid coaching search committees are loosed upon the college football world while men like Helfrich enjoy hefty buyouts.
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The rise of private equity buyouts within the tech sector presents a viable exit option for founders, given the reality that most startups won't ultimately IPO.
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FedEx did not announce how many jobs it seeks to cut, but has said previously that it would extend similar voluntary buyouts to international workers too.
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According to the New York Times, over 19473 employees have already taken buyouts as part of the museum's effort to cut its deficit by $30 million.
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The business daily, citing unnamed sources familiar with the matter, said Weimer hoped to achieve the headcount reductions by offering older staff buyouts or early retirement.
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The buyouts, along with Pruitt's deregulatory efforts, his questioning of climate science, and his close ties to industry, have also reportedly contributed to low employee morale.
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But overall volumes have been steadily declining since 2013, driven in part by a rout in the energy sector and a fall-off in leveraged buyouts.
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The decline of CD sales has also sparked Warner Music Group to offer voluntary buyouts to its 130 staff working in physical product, according to Billboard.
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More than 700 employees were laid off, took buyouts, or left since then and at Pruitt's departure, its budget was slashed by more than $800 million.
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NWMCWC can apply for funding from the Scottish Land Fund, which has 10 million pounds a year to spend from the national lottery on community buyouts.
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Private equity buyouts account for 61% of the jobs lost and planned for elimination in the 2016 and 2017 retail apocalypse, according to a new study.
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That could lead to more management buyouts, where managers take companies private to focus on improving performance, and opportunities for buyout firms to fund such deals.
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Asia-focused Baring Private Equity Asia is the other buyouts firm likely to be invited to the auction process, banking sources familiar with the process said.
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Mitigation should include multiple options including strengthening natural features that help buffer storms, buyouts and preservation of green space, and elevation and other property-level interventions.
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The Brooklyn Museum is offering voluntary buyouts to address a budget deficit of about $3 million, the museum's director, Anne Pasternak, informed the staff on Wednesday.
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PIK notes are used to increase the amount of debt in buyouts by giving issuers the right to pay interest in the form of additional debt.
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To control costs in a looming downturn, FedEx announced Tuesday evening that it will offer buyouts to its US employees and will scale back hiring plans.
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The bank is offering buyouts to encourage partners to leave as CEO David Solomon works to shrink one of the most elite clubs on Wall Street.
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Management buyouts like the one that Mr. Dell pursued are often filled with conflicts and self-dealing, dynamics that have produced steady fodder for this column.
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"The email [Journal Editor-in-Chief] Gerry Baker just sent about wsj buyouts says that dj is offering 1.5x the standard buyout package," Finn's email read.
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In early September, the Globe and Mail newspaper offered voluntary buyouts to all of its roughly 650 employees as it sought to cut around 40 jobs.
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A small portion of the necessary cuts are to come from administrative costs; officials said that the Met hopes to achieve those savings through voluntary buyouts.
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Among private equity firms, it was one of the first to go beyond traditional corporate buyouts and develop extensive practices in real estate, infrastructure and credit.
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Annual leverage for leveraged buyouts rose to 6.73 times in 2019, the highest level since 2007, when total leverage was 7.05 times, according to the data.
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"Buyouts are a smart option if your goal is to eliminate flood damages," says Rob Moore, a senior policy analyst at the Natural Resources Defense Council.
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The state plan includes programs that allow local governments to offer buyouts to homeowners and that provide reimbursements to homeowners for out-of-pocket repair expenses.
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It turned out that he had gone to law school and spent a couple years doing private equity and leveraged buyouts before applying to business school.
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This year, the company cut back employee bonuses and has offered buyouts in an effort to reduce labor costs in the face of slowing global growth.
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The plan allocates 100 billion euros to provide job retraining, buyouts and investments in communities hit hard by the loss of jobs related to fossil fuels.
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When FedEx first flagged trade as a problem three months ago, it announced plans for voluntary buyouts, along with limits on new hires and discretionary spending.
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Private equity firms are big players in the acquisition marketIn 2004, IPOs outnumbered private-equity buyouts by a ratio of 3-to-1, according to PitchBook.
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Mr. Osman, the Illinois floodplain manager, said it could also be hard to get older people to accept buyouts, as well as people in poorer neighborhoods.
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Buyouts often rely on increasing earnings before interest, taxes, depreciation and amortization, or Ebitda, but in this case merely stopping the decline would be an achievement.
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Leverage for buyouts increased to 6.94 times in the third quarter, the highest level since the same three-month period in 2014, according to the data.
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The automakers have not announced plans to offer buyouts to hourly production workers at their factories, which would require an agreement with the United Autoworkers union.
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And all of these buyouts are voluntary, so this version of strategic retreat can end up instead as an awkward patchwork of houses and empty lots.
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Years ago, when private equity buyouts were typically only large deals, new management teams were almost always brought in to tweak the edges of already successful companies.
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Developers and landlords have made many of these into market rate and luxury units through predatory tactics such as forced evictions, cheap buyouts, illegal construction and harassment.
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Banks typically arrange profitable financings used when sponsors undertake leveraged buyouts (LBOs), but many private equity firms have lost out to cash-rich corporate buyers this year.
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However, the market for leveraged buyouts in the retail sector has been very choppy of late, with debt investors licking their wounds after participating in recent deals.
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Meanwhile, the wealthiest and most morally corrupt among us, gamble the soul of our nation and our livelihoods with high-priced lobbying, corporate mergers, buyouts and offshoring.
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The venture company is expanding its offerings, including adding a growth arm that will be aimed at investing in later-stage companies and could even do buyouts.
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Meanwhile, more than 200 scientists have left the agency in the last year, citing low morale and a wave of buyouts aimed at cutting its total staff.
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N) said it will acquire a 60 percent stake in India's Ramky Enviro Engineers Ltd (REEL) for $530 million, adding it was one of India's largest buyouts.
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So far during the second quarter, leverage for US buyouts averages 6.57 times, the highest level since it reached 6.65 times during the third quarter of 22007.
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It survived the collapse in 1990 of its U.S. investment bank Drexel Burnham Lambert amid a scandal over its promotion of highly leveraged buyouts and "junk bonds".
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Less than 24 hours later, experts are still scratching their heads, wondering how Musk could pull off what could be the largest management-led buyouts in history.
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At several distressed retailers, the troubles can be traced back to leveraged buyouts, when private equity firms used a combination of equity and debt to acquire them.
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Angel Martínez, spokesman for the Argentine Federation of Commerce and Service Workers (FAECYS), said workers would agree to voluntary buyouts at a meeting scheduled for 2 p.m.
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"Management buyouts or other take-private transactions already suffer from serious information asymmetry between management and public shareholders," said Gabriel Rauterberg, a University of Michigan law professor.
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Several large financings backing public to private buyouts totaling around €19bn-equivalent, are set to reach the market in September, which will provide some much-needed supply.
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The McClatchy Company offered buyouts to roughly 10 percent of its employees at the 29 newspapers it owns across the U.S. Friday, the Miami New Times reported.
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Conspicuous consumption, like that dreadful word "luxury," feels dated: as '80s as Nan Kempner and leveraged buyouts, as '90s as the Miller sisters and tiny Prada backpacks.
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Blackstone's two largest segments, corporate buyouts and real estate, have invested $171bn since 323 and generated average annualised returns of roughly 15 per cent, net of fees.
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The company also said furthers reductions of as many as 50 positions could be achieved via voluntary buyouts offered in Vancouver and Ottawa starting in coming days.
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Reinaldo Pascual, a partner at Paul Hastings, had been advising Mr. Perlman and Mr. Price for more than a decade and had been involved in previous buyouts.
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He reduced the payroll by 20,000 workers, most of them induced to leave with buyouts, and slowed the rate, though not the total amount, of city spending.
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Furloughs by the airline after the merger had angered employees, but that dissipated beginning in 2014 when United offered voluntary buyouts that more than 2,500 employees accepted.
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Over the past four years, UNC has added a curriculum for undergraduates about the buy side, including courses covering how to evaluate deals and model leveraged buyouts.
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The three departures precede what is expected to be a series of voluntary buyouts, which the museum has said it hopes will allow it to avoid layoffs.
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Moreover, aggressive valuations and credit terms increasingly apply to mid-market sponsor buyouts, which may amplify execution risk for businesses with less diversified product and end-markets.
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The company's employment in India has nearly doubled since 22004, even as its work force in the United States has shrunk through waves of layoffs and buyouts.
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The firm, whose history traces back to a much larger private equity firm based in Chicago, has benefited from a slowly growing boom in technology leveraged buyouts.
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The company's employment in India has nearly doubled since 210, even as its work force in the United States has shrunk through waves of layoffs and buyouts.
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Firms might try to acquire companies through leveraged buyouts or outright in cash, and companies that want to resist the buyout might not be able to succeed.
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However, such a deal would represent one of the biggest leveraged buyouts of recent years, and it is unclear whether such a transaction can be put together.
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Ford and General Motors pioneered the practice of offering buyouts to their tens of thousands of current retirees, rather than just those on the cusp of retirement.
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The company is not the first to offer similar buyouts — Federal Express, Verizon and General Motors are among others that have gone this route for varying reasons.
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He financed the deal with a $214 million loan from Madison Realty Capital, a real estate investor, planning to use the extra money for buyouts and renovations.
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Canadian newspaper publisher the Globe and Mail offered voluntary buyouts to all staff on Thursday in an effort to "right-size" the business, publisher Philip Crawley said.
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The New York Times on Saturday reported that the State Department will give the buyouts to the first 641 personnel who say they will depart by April.
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Ms. Worsley, who as a commissioner voted against buyouts in 1999, said residents should have the option this time, although she hopes few people will take them.
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PitchBook notes that returns and cash flow to VC investors have been "especially positive" in the past two years amid a healthy environment for IPOs and buyouts.
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New York City has been pursuing targeted purchases and acquisitions in some of the city's most flood-prone spots, building on similar buyouts undertaken by the state.
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Hong Kong and China combined are the fifth-biggest source of foreign investment in Australia and Treasurer Morrison has blocked some recent buyouts citing national security concerns.
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One-quarter of last year's buyouts involved "adjusted" ebitda, which inflates profits by adding back some costs that are usually deducted, flattering a borrower's stated leverage ratios.
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Private equity firms may need to contribute more equity to leveraged buyouts due to the bill, and more financings may be structured with preferred equity, Mish said.
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Even in buyouts, Blackstone last year raised $5 billion for a fund that aims to hold companies for twice the normal length of a private-equity investment.
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Neither junk bonds nor leveraged buyouts were invented in the '80s, but Milken was a key figure in expanding their use on Wall Street during the decade.
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Including debt, the enterprise value is 5.9 billion pounds – 12 times 2018 EBITDA, against an average of 11 times for U.S. and European buyouts in recent years.
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However, such a deal would represent one of the biggest leveraged buyouts of recent years, and it is unclear whether such a transaction can be put together.
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Chu, who fled his native country Vietnam with his family in 1975 at the age of eight, worked on some of Blackstone's biggest and most successful leveraged buyouts.
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If Nielsen does go private, it will be one of the largest leveraged buyouts in recent years and in the ballpark of some of the largest LBOs ever.
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Pickens gained notoriety and celebrity in the 1980s as a dealmaker who launched leveraged buyouts of oil companies including Phillips Petroleum Co, Gulf Oil Corp and Unocal Corp.
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"This is not based on any underlying valuation calculation but rather the approximate midpoint of the range of premiums paid for retail buyouts in recent years," Jaffe said.
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Boeing's other major union, the Society of Professional Engineering Employees in Aerospace, said some members had been told they might be eligible for buyouts but none were approved.
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Handelsblatt, citing company insiders, said few staff had been offered buyouts while Kengeter was at the helm and there would be willing takers if offers were made now.
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While the federal government has long funded post-disaster home buyouts, little money has been earmarked for pre-disaster programs – although there are signs that may be changing.
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Tumblr is currently part of Verizon Media Group (formerly Oath), the umbrella brand for digital properties that Verizon ultimately controlled after its two buyouts of AOL and Yahoo.
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So far this year, tech companies accounted for 46% of all U.S. buyouts, the sector's highest level since at least 1995, when data provider Dealogic started keeping track.
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Nissan trimmed output in Canton, Mississippi, as well as its operations in Mexico in recent months, while also offering voluntary buyouts to an unspecified number of U.S. employees.
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Dealmaking has moderated as the market for high-yield bonds and loans, the lifeblood of buyouts, struggles to recover after stumbling late last year when investors shunned risk.
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GM offered buyouts to 26,20193 employees in North America with at least 22019 years of service in November, according to a document obtained by CNBC at the time.
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Starting at least a year ago, Elliott began building up its ability to carry out leveraged buyouts in the technology sector, according to people familiar with the matter.
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Like Rue21, Payless and Neiman Marcus have been hurt by debtloads created in private equity buyouts, preventing them from being nimble and adjusting to the changing retail environment.
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The company had hoped that up to 100 non-union workers would take voluntary buyouts, but only 50 to 60 people took the deal, according to one source.
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Healthcare, however, emerged as a particularly lucrative sector for TPG in leveraged buyouts, earning its healthcare investments chief Todd Sisitsky the title of North American private equity head.
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If retreat is pursued instead, the city would buy homes and businesses as they become available over the next 40-60 years, followed by more aggressive buyouts afterwards.
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The company said in a statement that the buyouts were available to up to 44,000 employees in total, and were offered as part of a company restructuring plan.
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Typically retail firms roll over debt to buy time, but interest rates have risen since the last set of buyouts several years ago, making that prospect more expensive.
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But now mega-technology brands like Apple, Google and Facebook are sitting on big cash piles, watching as other large buyouts, like YouTube and Instagram, have proven fruitful.
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Most notably, Ocasio-Cortez has railed against private equity firms that led leveraged buyouts of retailers that resulted in numerous bankruptcies, like Toys R Us and Sports Authority.
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The company said in a statement that the buyouts were available to up to 85033,000 employees in total, and were offered as part of a company-restructuring plan.
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In the last few weeks, both Gannett and McClatchy, which own hundreds of newspapers throughout the country, have announced layoffs and buyouts that will cut hundreds of jobs.
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The smooth conclusion of some marquee buyouts - like the $6.8 billion deal of large Chinese shoemaker Belle International - has also given confidence to entrepreneurs to adopt that route.
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Despite buyouts, mandatory placements in schools and a rule that all unassigned teachers must look for permanent posts, there were still 223 teachers in the pool in April.
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Fewer companies are going publicPart of what's driven the surge of private-equity buyouts — and acquisitions overall — is that fewer and fewer venture-backed companies are going public.
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After the earnings report, GM announced that it would be offering voluntary buyouts to 18,000 of its 50,000 US salaried staff as part of a cost-cutting effort.
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Steven J. Davis, an economist at the University of Chicago Booth School of Business, and five co-authors analyzed thousands of private equity buyouts between 1980 and 2013.
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These privileged gentrifiers are raising median rents and often, as real-estate developers use the morally dubious machinations of illegal evictions and underhanded buyouts, forcing out longtime tenants.
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Adherence to regulatory guidelines, designed to thwart systemic risks by curbing the amount of debt taken in leveraged buyouts (LBOs), has taken hold, keeping total leverage relatively low.
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Despite the strong numbers, bankers and investors have bemoaned the lack of big buyouts in 2017, as high equity valuations continue to put many acquisitions out of reach.
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Mr. Jangalapalli, 31, is a vice president, specializing in leveraged buyouts and other investments in software companies, in the San Francisco office of Thoma Bravo, an investment firm.
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Carlyle bought a majority stake in the hedge fund, founded by four Citigroup traders, in 2010 as part of a move to diversify beyond its core business of buyouts.
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With a range of large new money buyouts successfully placed, including deals for German generic drugmaker Stada and life sciences company Avantor, some credits are attempting to reprice again.
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Dealmaking has fallen sharply after the markets for high-yield bonds and loans that fund buyouts ground to a near-halt as banks and investors alike shun risky deals.
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By the year 2050, contemporary art museums across the nation began struggling to acquire new work, while losing existing work to collectors and to buyouts by larger historic museums.
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E&E News reports that roughly 450 employees are poised to leave the EPA as the organization's lead, Scott Pruitt, pushes for voluntary buyouts, early retirement, and budget cuts.
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"CalPERS has a unique opportunity to be a leader in the co-investment space," Sandra Horbach, U.S. buyouts co-head at The Carlyle Group, told the board on Monday.
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Updated on February 12, 2018, at the request of Motive to indicate that it is no longer a VC but an investment firm focused on growth rounds and buyouts.
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The company eliminated roughly 3,750 salaried positions through buyouts and by cutting contract workers, leaving roughly 203,250 salaried workers and 6,000 hourly employees targeted for layoffs in North America.
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Luxembourg-based private equity group CVC Capital Partners raised 16 billion euros ($17.98 billion), setting a new European fundraising record as investors scramble to put money into leveraged buyouts.
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TORONTO (Reuters) - Canadian newspaper publisher the Globe and Mail offered voluntary buyouts to all staff on Thursday in an effort to 'right-size' the business, publisher Philip Crawley said.
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And credit markets have raised the price of corporate debt amid expectations of a rate hike, making it more expensive for firms like KKR to carry out leveraged buyouts.
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According to data from LPC, two-thirds of leveraged buyouts through the first three quarters of 2017 had leverage above six times - and more than 26% topped seven times.
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A CNN representative told Deadline the buyouts were explicitly not related to layoffs, but the move comes as AT&T — which owns CNN — attempts to restructure billions in debt.
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They can absorb multimillion-dollar buyouts for hot coaches like Herman without breaking a sweat — while paying millions more to departing coaches whose contracts still have years to run.
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The buyouts are likely to accelerate the process of draining the agency of its most senior, experienced workers in technical fields that can be difficult to impossible to replace.
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The venture company has been expanding its offerings, including adding a growth arm that will be aimed at investing in later-stage companies, and it could even do buyouts.
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Apollo, TPG and co-investors sank $6 billion into the deal, just as the golden age of mega-buyouts peaked and the U.S. economy tipped into a deep recession.
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Some economists say the buyouts of early-stage companies by large dominant players help explain why, by many measures, the American economy has been less dynamic in recent years.
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Ms. DeVos has cut staff by offering buyouts, has scattered expertise by reassigning a number of high-profile managers and has tried to break up the department's budget office.
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In an email to staffers on Monday, Tribune Publishing announced voluntary separation offers — or buyouts — to employees who have worked for eight or more years at the newspaper conglomerate.
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"Lots of people are being pressured to leave their rentals, a lot of buyouts are going on," Mr. Fanning said, adding that some residents are organizing against rezoning proposals.
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A recent round of buyouts will lead to the departure of dozens of employees, even as new workers with different skills are hired, altering the character of the newsroom.
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And when I think of TPG, I typically end up going back to the early ops and to the period of the big buyouts, which you had very few.
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And public market options are shrinking by the day, with mergers and buyouts — like Elliott and Francisco Partners recent discussions to take LogMeIn private for $4 billion — outpacing IPOs.
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Salomon was, of course, a Wall Street bond titan at the time and would eventually help define the go-go 1980s "Barbarians at the Gate" era of leveraged buyouts.
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Apollo Global Management LLC is seeking to raise $22.5 billion for its new fund, which would be the largest fund raised since the financial crisis by a buyouts firm.
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The company has met with financing banks in recent weeks to discuss its options, but the landscape for buyouts of retailers is difficult, due to uncertainty clouding the industry.
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According to the bill, states can use the fund to make grants or loans to local communities for mitigation activities, like home elevations or buyouts, to decrease flood risk.
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Although such firms remain tied in the popular imagination to leveraged buyouts like the RJR Nabisco takeover, the industry long ago extended into a much wider array of businesses.
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Given that the changes to interest deductibility will, in effect, increase the cost of borrowing for leveraged buyouts, it's almost inevitable that prices paid to sellers will come down.
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GM has been offering buyouts to North American salaried workers and has said it could lay off white-collar staff if it does not hit a cost-cutting target.
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The debt financing is expected to be welcomed by lenders and investors who are eager to lend to new buyouts, which have been in thin supply in 2019 so far.
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GM has been offering buyouts to North American salaried workers and has said it could lay off white-collar staff if it does not hit its target to cut costs.
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The Detroit automaker had previously promised investors it would cut $1.1.87 billion in costs this year, and the buyouts would add to that total, a company spokesman said on Wednesday.
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As the retail industry confronts the rise of e-commerce and rapidly changing consumer behaviors, many companies that took on debt in private equity buyouts to acquire cash are folding.
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As the Washington Post reported, Office of Management and Budget Director Mick Mulvaney has been urging agency heads to offer buyouts and early retirement packages, do layoffs, and eliminate jobs.
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Although the size of the financing is challenging, liquid banks and investors are eager to lend to new buyouts as the strong level of global demand continues to exceed supply.
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In 2015, the Bank of England and the Prudential Regulation Authority, also made changes around bonus buyouts, where banks compensate new employees for any remuneration foregone when they change jobs.
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While investments in Chinese technology companies such as Ant Financial have headlined private equity's activity in Asia, a series of actions including buyouts show the industry is becoming more aggressive.
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The law school at Valparaiso University in Indiana, a focus of the article, has offered buyouts to faculty members and plans to reduce its student body by about a third.
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With last week's manufacturing capacity announcement involving "unallocated product" at five North American plants and the recently announced salaried buyouts and cuts, GM now faces criticism for moving too quickly.
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Lost in the debate, however, is the extent to which private equity and broader "alternative" investments — corporate buyouts, real estate, credit, venture capital — have triumphed in the past 10 years.
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Yet while big buyouts are out, the number of smaller private equity deals in Africa is rising as investors pick off opportunities too small for global funds, AVCA data shows.
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In Europe, buyouts reached $39.7bn in the first half of this year, a 29 per cent increase from the same time a year ago and the highest level since 2014.
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Ed Finn was attempting to respond by email to three people after buyouts at The Wall Street Journal were announced, and hit the "reply all" button by mistake, Politico reported.
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Top officials at the Environmental Protection Agency (EPA) will maintain a freeze on external hiring and offer employees buyouts this year as part of a Trump administration workforce restructuring plan.
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In recent leveraged buyouts such as for art auction house Sotheby's and welding and valves manufacturer Colfax Corp , banks have had to adjust terms to attract buyers for the debt.
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BERLIN, Feb 27 (Reuters) - Leveraged buyouts are the priciest they have been at anytime since the 2007-20173 financial crisis, but private equity firms are not sitting on the sidelines.
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"It is good to have a genuinely new buyout loan, rather than the regurgitated deals that are so common as a result of secondary and tertiary buyouts," an investor said.
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Mr. Hoffman also works in San Francisco, where he is a vice president, specializing in leveraged buyouts and other investments in software companies, at Thoma Bravo, a private investment firm.
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The consolidation of the country's airlines into what we have today was the result of decades of mergers, acquisitions, buyouts, bankruptcies, and collapses that plagued the industry since its inception.
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There is also the issue of buyouts, such as the $10 million that Texas reportedly owes Strong, even as Herman's contract reportedly pays him more than $5 million per year.
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Lease buyouts can have higher interest rates than a new or used car loan, but Bank of America&aposs lease buyout APRs start lower than the rates other lenders offer.
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The unitranche structure, which combines senior and subordinated debt into one credit instrument at a single blended cost of capital, has traditionally been used for small to mid-sized buyouts.
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The organization's recent supporters include General Dynamics, Pfizer, and Cigna; its top publicly reported donor is Brian Sheth, a vulture capitalist who once worked in leveraged buyouts at Bain Capital.
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Guardian U.S., which lost more than $15 million last year, announced last month that it would cut about 30 percent of its staff through voluntary buyouts and, if necessary, layoffs.
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Layoffs and buyouts have agitated the newsroom, and the newspaper's editor has been forced to defend its coverage of the Trump administration, which some critics have said was too soft.
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The shrinking of the U.S. equity supply, including buyouts to private equity firms, acquisitions, and share repurchases, is acknowledged as a significant factor contributing to the rise in equity prices.
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While Raymond James sees "little appetite" for buyouts of entire companies as likely, the analyst does expect to see more acquisitions in the manner of internet companies exchanging business units.
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Here are the current top 22006 largest leveraged buyouts of all time: The largest leveraged buyout in history was valued at $22007 billion, when TXU Energy turned private in 19.63.
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The National Labor Relations Board has ruled that Harley-Davidson Motor Co was required to bargain with a union before offering buyouts to senior employees at a Pennsylvania motorcycle plant.
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In its statement, the ministry said workers who accepted the buyouts would have access to retraining courses and that the company would give additional benefits to pregnant or elderly employees.
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New restrictions were rolled out in Germany in the interests of "national security", allowing ministers further scope to investigate buyouts deemed endangering to critical industries, such as technology and infrastructure.
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GM is expected to announce as soon as this week some involuntary salaried layoffs after it did not get as many volunteers to accept buyouts as hoped, the person said.
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This was a reversal by the Internal Revenue Service and U.S. Department of the Treasury of an Obama-era ban on lump-sum buyouts for people who already are retired.
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The potential sale of the unit, which makes advanced batteries for vehicles, could fetch around US$12bn in what is expected to be one of the biggest buyouts of the year.
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General Motors mentioned uncertainty around China in the bleak picture of the global economy described in talking points distributed to managers in October as the automaker offered buyouts to 17,700 employees.
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The Department of Housing and Urban Development is preparing rules on how to disburse $12 billion worth of pre-storm "mitigation" funding, which can be used for buyouts, said a spokesman.
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Ford Chief Executive Jim Hackett said in a Monday email to employees that the cuts include both voluntary buyouts and layoffs, and a spokesman added it freezes open positions as well.
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TC: So readers are clear, you're investing across all stages, from seed-stage rounds all the way through buyouts — and all of these investments come from that bigger, $800 million fund.
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Docs backing leveraged buyouts have been getting more aggressive over the past few years but have stepped up a notch over the last 24 months, fuelled by a supply/demand imbalance.
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These transactions, known as leveraged buyouts, occur when a private equity firm uses a combination of equity and debt to purchase a firm — saddling the company with debt in the process.
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However, there is a lot of work banks have to undertake to prepare the underwritten financings and there is a greater risk of the acquisitions falling though compared to traditional buyouts.
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The Amsterdam-based holding became the number four cable operator in the United States last year through debt-fuelled buyouts but still relies on France for about half of its revenues.
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They triggered intense national discussion over the means the government had to fend off such buyouts and led to parliamentary inquiries that questioned the absence of a U.S.-style legislative apparatus.
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Blackstone, which had $44.4 billion in private equity funds it had raised but yet to invest at the end of 2018, has been pursuing several large leveraged buyouts in recent years.
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Alternative liquidity: Private equity buyouts of VC-backed companies shot up to 18.5% of all VC-backed exits last year, and nearly doubled in value to $8.1 billion, according to Pitchbook.
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This was seen recently in recent European buyouts of Spanish frozen fish producer Iberconsa and German chemicals group Evonik's methacrylates plastics unit, Madrid ION Group was not immediately available for comment.
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The communications giant announced earlier this year that it would offer voluntary buyouts to employees as part of an effort to cut costs before it began offering 5G service, CNBC reported.
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Current data shows that S ESOPs are the least-used business exit option for retiring owners, behind domestic and foreign mergers and acquisitions, private equity buyouts, and initial public offerings (IPOs).
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Moody's said limits on interest deductibility would also make private equity buyouts less attractive, since interest deduction is an important aspect of the strategy to buy companies in high-debt deals.
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Performances across all of Blackstone's main businesses — buyouts, real estate, hedge funds and credit — improved markedly compared with year ago, when a plunging U.S. stock market pushed investments into the red.
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The size of the deal underscores how private equity firms are turning to bigger leveraged buyouts as they seek to put a record $1 trillion of unused investor money to work.
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Warren wants to impose a 100% tax on the fees private-equity firms charge for managing a company and change bankruptcy law to protect American workers who lose jobs in buyouts.
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A House Democrat unveiled legislation on Monday that would prevent businesses from deducting the costs of buyouts for employees accused of sexual misconduct to lower the amount of taxes owed. Rep.
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The money is often used to finance mergers and leveraged buyouts — off to a strong start this year — but not always, as more borrowers tap extremely strong demand for such loans.
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"Voluntary separation payments" or buyouts are being offered at many agencies, in line with President Trump's pronouncements that the federal government is simply too bloated to carry on business as usual.
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After averaging $1 billion to $2 billion a year through the 1990s and 2000s, pension buyouts worth $34.6 billion were executed in 2012, according to Limra, a life insurance trade group.
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Ford Chief Executive Officer Jim Hackett said in an email to employees that the cuts include both voluntary buyouts and layoffs, and a spokesman added it freezes open positions as well.
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Inspired by his class, he started reading a number of business books in his free time and took a particular interest in the surge of private-equity buyouts in the 1980s.
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American Airlines is preparing for some management-level layoffs and buyouts in an effort to slim down five years after its merger with US Airways, the airline told employees on Tuesday.
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Instead, we got a proposal to use buyouts not as an opportunity to reimagine areas that have flooded repeatedly, but to support the redevelopment of areas that will inevitably flood again.
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In the long run, it may be a more effective use of your tax dollars to pay for improvements or buyouts so these communities won't need to be bailed out later.
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With a reputation for leveraged buyouts, Mr. Malek's financial coups over the years included the acquisition of the Ritz Carlton Hotel Company, Northwest Airlines and Coldwell Banker, now CB Richard Ellis.
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Private equity firms, which traditionally invest in management buyouts of companies, are looking at this business partly because of an increase in the prices of the companies they seek to buy.
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Private equity firms are swimming in cashThe surge in private equity buyouts has also been stoked by a huge gust of money into the industry, particularly in the last 10 years.
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It hopes to cut about $100 million in costs, and the news organization is grappling with buyouts and layoffs as well as the elimination of entire sections from the print publication.
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Mr. Macaulay made his fortune in energy company buyouts, overseeing the transformation of the First Reserve Corporation, which he acquired in 21945, into one of the field's largest private-equity firms.
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In his 22012 master's thesis at Ohio State University, he called this approach the "effective non-use of cash" — in other words, leveraged buyouts, often fueled with high-risk junk bonds.
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I was always too young and cheap to get rid of when everybody else was getting buyouts and it lasted long enough to have seen the light on the other side.
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Private equity buyouts often involve loading the companies involved with debt, and usually precede radical restructuring of a company's operations like layoffs or liquidating assets to help pay back the new creditors.
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However, there is little indication there will be an imminent pick-up in supply from M&A-driven activity, unless a string of larger potential buyouts come through to the loan market.
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The project diverges from prior resettlements, which have largely followed a model of individual buyouts—offering lump-sum payments to residents and leaving them to their own devices to restart their lives.
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A majority of banks are clamouring to get a spot on the increasingly aggressive staple financings being offered on potential buyouts, in the hope they will be mandated by the successful buyer.
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Private equity buyouts in retail like Toys 'R' Us's increased in the early '00s, when struggling retailers, including Sports Authority, Claire's, and Payless ShoeSource, turned to private equity firms for new ownership.
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And it points to a merger this year, when Dominion Energy purchased South Carolina utility SCE&G, and announced buyouts for 1,200 workers, with the expectation that hundred will be laid off.
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Context: Venture capital generally sells at a discount to buyouts on the secondaries market, and corporate venture often sells at an even deeper discount because buyers don't share in any strategic synergies.
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It includes protections for workers whose retirement savings may be in investment vehicles that are vulnerable to corporate transactions, like private equity buyouts, but no specific incentives for greater employee stock ownership.
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With deteriorating revenue, the likelihood for buyouts in the food sector at a lofty premium is diminishing, swinging "the risk/reward profile of investing in these names to the negative," Howard said.
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Within the last month, at least three leveraged buyouts of over US$1bn have been announced with committed financing, which promises to boost M&A volume for loans as the year progresses.
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Other private conglomerates like Fosun International and Anbang Insurance Group are either reshaping their businesses and reducing debt, or halting fresh buyouts and searching for new shareholders under strict supervision of regulators.
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Blackstone Insurance Solutions has a dual purpose, firstly giving insurance clients a more dedicated focus to direct their investments across Blackstone's existing businesses, which include leveraged buyouts, real estate, credit and infrastructure.
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Should neighborhoods rebuild in place after a flood, or do you change zoning policies and use buyouts to help relocate established neighborhoods in a planned way that may retain some community cohesion?
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Today, private equity transactions that use leveraged buyouts financed with debt can take 20 to 30 days to close and settle, said James Disney, Credit Suisse's global head of software investment banking.
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This is corporate raiding of the 1980s variety—but it's being done more quietly now, with staid professionals overseeing the takeovers instead of the more flamboyant leveraged buyouts of the Reagan years.
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In the process, the city has used eminent domain and buyouts to push out the businesses, creating a lot of abandoned and semi-abandoned buildings—a perfect graffiti canvas, in other words.
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This model fell apart as retailers found themselves needing to retrench their store base and invest in e-commerce, even as their hands were tied by the debt leftover from the buyouts.
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The buyouts were offered to employees who had hit retirement age, with four weeks of pay for every year of service — potentially providing two years' worth of pay total, according to Deadline.
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Warren wants to impose a 100 percent tax on the fees private equity firms charge for managing a company and change bankruptcy law to protect American workers who lose jobs in buyouts.
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Yet a Delaware judge's recent ruling that the deal — the 2013 buyout of Dell — had shortchanged shareholders by that amount has roiled a debate on how it may affect buyouts more broadly.
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The Wall Street bank has been offering buyouts to entice bankers to leave, Business Insider's Dakin Campbell has reported, after Solomon felt the partner ranks had swelled under his predecessor, Lloyd Blankfein.
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If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said.
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Legislation introduced in Congress by Adam Smith, a Democrat of Washington, and several co-sponsors would fix the problem, by protecting negotiated buyouts and permit retirements from the executive branch's political whims.
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More than 100 homeowners want to rebuild or elevate their houses, and 185, in a town of about 2,200, have requested buyouts — a number that, if granted, would devastate the tax base.
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But Pacific Junction has never been forced to confront the prospect of offering buyouts — for decades, levees and raised railroad tracks on nearly every side of the town prevented major flooding before.
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The mayor is opposed to buyouts in part because of the cost –– while FEMA funds 75 percent of the cost, the town has to pony up 15 percent of the remaining 25.
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Leverage for leveraged buyouts climbed to 6.57 times during the second quarter, according to LPC data, the highest level since the third quarter of 2014, and the fourth quarter of 2007 previously.
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The paper has been plagued by financial problems and earlier this week announced a series of budget cuts that it hopes to achieve with buyouts, although it did not rule out layoffs.
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Mach and her colleagues combed through data from 43,000 FEMA buyouts since 1989 and correlated their location and size to local income and census data, as well as post-flooding damage estimates.
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London-based BC Partners specialises in buyouts and acquisition financing in upper middle market European and US companies and is looking to raise a new flagship multi-billion pound fund next year.
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Like the buyouts of Dynegy and Caesars and myriad other cases, this is one more attempt by private equity owners to salvage their interest in a company, despite past promises to creditors.
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And yet, from 2005 to 2014, FEMA obligated just $600 million to its Pre-Disaster Mitigation program, the federal government's main vehicle for pre-disaster investments to reduce flood risk, including buyouts.
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CLO volume was up 51 percent year over year in the first half, according to Dealogic, while Thomson Reuters reports that volume for loans used in leveraged buyouts has surged 33 percent.
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Leveraged loan bankers and investors are hoping that a pro-business environment and stronger economy will stimulate private equity buyouts in 2362 after focusing on refinancing and repricing existing deals in 2336.2.
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But on the other hand, the Trump administration earlier this year made it easier for pension plan sponsors to get rid of their benefit obligations by offering lump-sum buyouts to retirees.
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Ten of the 242 largest retail bankruptcies since 243 — Payless ShoeSource, Toys R Us, and Claire's among them — have been at companies saddled with debt due to leveraged buyouts by private equity firms.
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Whereas Apollo is doing more lending that banks cannot, its business also faces challenges from how much less banks can lend to it for leveraged buyouts, thanks to post-crisis regulation in Washington.
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Mid-cap pub operator Mitchells & Butlers surged 8% to a more than 3-1/2 year high after Canaccord Genuity upgraded the stock following recent buyouts of peers Greene King and Ei Group.
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"The email Gerry Baker just sent about wsj buyouts says that dj is offering 1.5x the standard buyout package," Ed Finn, editor and president of Barron's, wrote in reply to the earlier memo.
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This has led to a spurt in buyouts of meat snack makers in recent years, including chocolate maker Hershey's acquisition of Krave beef jerky and Conagra Brands' deal to buy Duke's meat snacks.
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This comes just months after the Boston-based firm offered voluntary buyouts to 3,000 members of its 45,000 workers – an offer that is believed to have been accepted by more than 1,500 employees.
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The sale of the unit, which makes advanced batteries for vehicles, could fetch around US$12bn in what is expected to be one of the biggest buyouts of the year, the sources said.
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After four consecutive years of increasing global debt volume for leveraged buyouts, the cash available to private equity firms fell 13 percent last year, from $153 billion to $133 billion, the report shows.
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On Friday, the Met said that more than 33 employees had taken the buyouts but that it would seek further cuts in its core departments, for a total of at least 100 positions.
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This week, a former hedge fund manager and a former real estate executive are raising $500 million to hunt for buyouts in the "blank check company" in the hospitality and real estate sectors.
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While private equity buyouts can account for some of the drop in the number of public companies, some executives of companies such as Uber and Airbnb are simply electing to delay their IPOs.
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The opinion may affect management buyouts, but that may not be such a bad thing — forcing would-be managers to work hard to justify buying their own companies would be better for shareholders.
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Mr. Tillerson imposed a hiring freeze, canceled programs to diversify the department's personnel, left empty dozens of the most senior positions requiring Senate confirmation and encouraged officers to leave by dangling $25,000 buyouts.
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The Yale portfolio had roughly 26 percent of its holdings in absolute-return funds, 18 percent in venture capital and roughly 15 percent each in foreign equity and leveraged buyouts, the university said.
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But late last year, the nursing home in Mobridge, S.D., that cared for Mr. Labrensz announced that it was shutting down after a rocky history of corporate buyouts, unpaid bills and financial ruin.
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New Orleans thus became the latest American city to be left with fewer reporters covering its affairs, as local newspapers across the country — through mergers, buyouts, layoffs, whatever it takes — try to survive.
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Although economically marginalized people of color "may be more likely to meet the eligibility requirements for buyouts," the study says, we don't know if the buy-outs have gone to disproportionately white people.
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Less well-off areas in Florida, Louisiana, and Mississippi have had the highest levels of property damage from coastal and inland flooding in the US, but rank in the middle of home buyouts.
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So we're set up more by sector, expressing that across growth, across buyouts, across real estate, as opposed to across tools, which I believe is a funny way to -- to organize the market.
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Contemporary fashion brands with strong omnichannel sales and social media presence like Ganni, Isabel Marant, SMCP and the Kooples have been subject to a recent string of private equity stake building or buyouts.
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The Wall Street firm, which was seeking to raise $5 billion to $8 billion for its first buyouts fund since the financial crisis, is expected to close the fund in the coming weeks.
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Another struggle emerged around 2011, when the municipality of Guaynabo began aggressively expropriating homes – or seizing properties through buyouts or eminent domain – to make way for a waterfront development of hotels and shops.
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"Leveraged buyouts were already challenging because of a run-up in equity valuations and regulatory curbs on leverage," said Steven Kaplan, a University of Chicago finance professor who does research on private equity.
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And as food supplies dwindle and Trywell's neighbors succumb to buyouts and looters, the movie pulls inward, focusing its tug between tradition and modernity in Trywell's resistance to his son's fantastical-seeming plan.
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Buyouts like Verizon's in good times can be a sign of likely layoffs when the economy slows, he says, and a reason to take the money while a new job is easier to get.
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TOKYO (Reuters) - Japan's trade ministry has overhauled guidelines for mergers and acquisitions to better protect minority shareholders in the case of management buyouts, a reform that comes amid a renewed focus on shareholder rights.
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GM is expected to announce as soon as this week some involuntary salaried layoffs after it did not get as many volunteers to accept buyouts as hoped, the person briefed on the matter said.
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While the final numbers are unlikely to be quite so drastic, Pruitt also supports massively downsizing the agency, and is doubling down on that vision by offering buyouts and early retirement packages to employees.
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The market is targeting more new money carveout deals as investment-grade companies sell subsidiaries to private equity firms, in public to private buyouts or by buying stakes in publicly listed companies, bankers said.
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Fitch Ratings expects lending to new European buyouts in 2017 to be in line with €50bn in 2016, despite a possible rush for deals before the European Central Bank implements new leveraged lending guidelines.
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At 49%, loans for add-on acquisitions account for roughly half of middle market sponsored M&A volume year-to-date versus 503% for new leveraged buyouts, according to LPC, a division of Refinitiv.
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Weak loan covenants currently give borrowers the freedom to add a wide range of supplemental debt, which will push the leverage on most buyouts to around 7.0 times or higher if added, bankers said.
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Mantle Ridge, which was founded by former Pershing Square Capital Management partner Paul Hilal, would be attempting one of the biggest leveraged buyouts since the financial crisis if it goes ahead with an offer.
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The change by KKR, which made its name through leveraged buyouts in Corporate America in the 1980s, to so-called C-Corp from a publicly traded partnership (PTP) will mean a bigger tax bill.
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Leverage at this level had not been seen before that since 261.5, before the credit crisis hit when leverage on buyouts topped out at 26.0 times on average, according to Thomson Reuters LPC data.
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Although banks could be more comfortable underwriting sizeable deals, big buyouts are currently more constrained by valuations than regulation and making acquisition multiples work is more of an issue than raising finance, sources said.
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In 210, the Obama administration allocated $11.3 million toward both voluntary buyouts and early retirement, which led to 456 EPA employees leaving the agency, according to an internal EPA report obtained by VICE News.
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United Technologies (UTX) is cutting its pension liabilities by about $1.77 billion this year, as it transfers management of its plans to a third party and offers lump sum buyouts to about 10,000 retirees.
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Chinese companies have received another warning over their enthusiasm for foreign buyouts with the head of China's foreign exchange regulator calling on them to invest "carefully", according to an official state newspaper on Monday.
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The Wall Street firm, which was seeking to raise $5 billion to $8 billion for its first buyouts fund since the 2008 financial crisis, is expected to close the fund in the coming weeks.
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US syndicated lending broke records in the first nine months of the year, with US$1.9trn of loans issued to fund mergers and acquisitions, leveraged buyouts, dividends and for debt refinancing, according to LPC.
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In 1993, he joined KKR, where he rose through the ranks to become head of its Americas private equity business and worked on some of KKR's biggest leveraged buyouts of the last 20 years.
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This has led to a spurt in buyouts of meat snack makers in recent years, including chocolate maker Hershey's acquisition of Krave beef jerky and Conagra Brands Inc's deal to buy Duke's meat snacks.
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Many others are pushed out when landlords — eager to raise rents or demolish buildings to make way for pricey new developments — illegally withhold basic services like heat and hot water, or offer paltry buyouts.
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Goldman Sachs is offering buyouts to encourage partners to leave as CEO David Solomon looks to shrink the firm's most senior ranks and restore some exclusivity to one of Wall Street's most prestigious titles.
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The world's third-largest commercial planemaker booked heavy provisions in 2190 to settle a six-year corruption investigation and pay for voluntary employee buyouts, which helped bring down costs in the fourth-quarter figures.
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NEW YORK, Sept 26 (LPC) - US government agencies have opened the door to bigger, more highly leveraged loans backing private equity buyouts after clarifying that supervisory guidance is not a rule in mid-September.
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The move came after a series of layoffs and buyouts after an expansion of print journalism that included starting papers in Los Angeles and Long Beach and buying The Press-Enterprise for $27 million.
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Best known for its leveraged buyouts, New York-based KKR was founded in 1976 by Henry Kravis, George Roberts and Jerome Kohlberg, and managed a total $98.7 billion as of the end of September.
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Private-equity acquisitions of retailers have become increasingly rare, as the investment firms worry about increasing headwinds facing the industry and their portfolio companies struggle with the debt burden left behind from leveraged buyouts.
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Leveraged buyouts hit their lowest level of activity in the first ten months of this year since 2016, while debt-funded dividends dropped to their lowest level since 2010, according to data from Refinitiv.
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Because attrition alone will not meet that goal, OMB has directed Tillerson to offer buyouts and early retirement incentives of $25,000 to the first 641 people who sign up by the end of April.
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Because the buyouts are voluntary, many who take the money and leave are likely to have skills or be in jobs that Mr. Tillerson is hoping to maintain or increase in a reorganized department.
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But the effort to secure buyouts has caused a rift between those who want to leave and those who've decided to stay — some of whom view the departed as traitors for abandoning the town.
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"The city does not want buyouts, because then the city's gone," says 259-year-old Jamie Cheyney, a healthcare worker whose home just outside the Pacific Junction city limits was destroyed by the flood.
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Another explanation, she said, could be that local officials "are using the buyouts as an opportunity to get rid of neighborhoods that they don't feel are desirable parts of their community," Ms. Siders said.
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Zhang said CITIC Capital has been focusing on "a lot of" buyouts in China over the last several years to deal with the consequences that come with overcapacity in "almost every" industry in China.
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New York (CNN Business)Tribune Publishing (TPCO) is offering buyouts to employees for the second time in two years and months after hedge fund Alden Global Capital became the largest shareholder in the company.
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Leveraged buyouts hit their lowest level of activity in the first ten months of this year since 2016, while debt-funded dividends dropped to their lowest level since 2010, according to data from Refinitiv.
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Other companies are inspired by the investor buyouts executed by Buffer, Wistia and Arkadium, and are asking investors to agree to similar deals — at potentially lower returns on their investments — in the future. Indie.
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In leveraged lending, an absence of mega buyouts gave way to an emphasis on medium-sized takeovers as well as a focus on generating dealflow from existing portfolio companies, in particular the higher-quality credits.
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Challenger points here to Verizon, which just offered buyouts to more than 44,000 workers, and transferred thousands more to newly-hired outsourcing company Infosys, as part of a drive to cut $10 billion in costs.
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A deal for Nielsen could be an indication that leveraged buyouts, which have gained consistent momentum in aggregate dollar value since 2009, could become another credible way for larger companies to exit the public market.
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Several of these leveraged buyouts, such as retailer Toys R Us and casino operator Caesars Entertainment, ended up in bankruptcy, succumbing to the downturn and the heavy debt load private equity firms saddled them with.
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CNBC previously reported that Baker was trying to raise equity to fund taking the company private, even as its peers like Toys R Us were succumbing to the weight of debt leftover from leveraged buyouts.
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Rodgers argued that Bingham's involvement with Canyon Bridge put him in a conflict as a Cypress Semi board member, because the fund may seek buyouts that overlap with the company's own list of acquisition targets.
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Itau said in a securities filing that it will offer buyouts to some employees aiming to "adjust the companys structures to the reality of the market," but did not disclose the number of reductions targeted.
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Banco do Brasil said it would offer buyouts to some of its workers, but did not say how many and said it would disclose the financial impact of the decision by the end of August.
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Affinity Equity Partners, Bain Capital, Carlyle Group, KKR and South Korea's MBK Partners were among those to submit bids for ADT Caps in 2014, which at the time was one of South Korea's largest buyouts.
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Despite several highly publicized failures, club deals are approximately 50 percent less likely to go out of business or bankrupt than buyouts led by one private-equity firm, market research firm PitchBook said last month.
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Why it matters: An under-reported story from the financial crisis was the relative paucity of large leveraged buyouts that went bust, despite the glut of overpriced take-privates that occurred between 2005 and 2008.
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Mantle Ridge, which was founded by former Pershing Square Capital Management LP partner Paul Hilal, would be attempting one of the biggest leveraged buyouts since the financial crisis if it goes ahead with an offer.
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That total was down from almost $50 billion in the second quarter, an anomaly that had a slew of large-scale buyouts such as the $9 billion minority stake selloff of drug research firm PPD.
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The pipeline of new buyouts which built up in late 2017 for syndication in early 2018 is tailing off, leaving bankers looking for deals and considering less lucrative refinancing deals as pricing continues to fall.
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GM offered buyouts to more than a third of its white collar staff in the United States in late October, a move designed to help its transition to self-driving vehicles and other new technologies.
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When Apollo Global Management and TPG Capital bought what was Harrah's Entertainment for about $31 billion, the two firms took control of the world's biggest casino operator during a heady time for daring leveraged buyouts.
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" Meantime, the lawmakers argued, "a recent analysis of private equity buyouts from 1980 to 2013 found that average earnings per worker fell by nearly 2 percent, compared to similar companies not owned by private equity.
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Itau said in a securities filing that it will offer buyouts to some employees aiming to "adjust the company's structures to the reality of the market," but did not disclose the number of reductions targeted.
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The Wall Street Journal reports that almost 400 workers have left the agency in recent days, many as the result of buyouts as the Trump administration fulfills campaign promises of "tremendous cutting" at the EPA.
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The News Guild of New York plays an active role in employee outreach and protection when reports like this are published at The Times, as they usually signify a round of layoffs or buyouts ahead.
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The Metropolitan Opera, which has continued to struggle at the box office and face what it calls "economic challenges," has offered voluntary buyouts to 21 of its 243 administrative employees, the company said on Thursday.
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Reuters reported on Monday that the company is offering buyouts to reduce its U.S. oil exploration and production workforce as it moves to cut costs in the face of sharply lower oil and gas prices.
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Milken helped invent junk bonds and leveraged buyouts in the 1980s, went to prison for almost two years for securities and tax fraud, and is now mostly known for charitable giving to help cure cancer.
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Leveraged buyouts of retailers have become increasingly difficult to finance, with lenders concerned about the albatross of debt payments as retailers must invest in technology and innovation to help adapt to the changing retail landscape.
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So, Facebook has gotten double blame in recent months for enabling the circulation of false news items while contributing to the financial pressures that are causing the continuing, national wave of newsroom buyouts and layoffs.
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Those kinds of buyouts now far outnumber IPOs and account for one out of every five so-called exits for venture capital-backed companies in the US, according to data PitchBook compiled for Business Insider.
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To be sure, high-profile unsuccessful club deals, such as the leveraged buyouts of Texas utility Energy Future Holdings and retailer Toys 'R' Us, which ended in bankruptcy, are not representative of all such deals.
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Toward the end of his tenure, the Met faced a steep $40 million deficit that caused retirement buyouts, hiring freezes, and a postponement of the heralded $600 million expansion of its modern and contemporary wing.
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New York (CNN Business)General Motors is offering buyouts to more than a third of its white collar staff in the United States, as the company transitions to self-driving vehicles and other new technologies.
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Paul Ryan crafted the bill in secret, there was no public deliberative process to speak of, and now Republicans are simply trying to jam it through, with whatever special buyouts and magic asterisks prove necessary.
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Even if they juice net debt up to 3.63 times 2019 EBITDA, it would account for just 45% of the enterprise value, based on Refinitiv estimates, compared with well over half in most leveraged buyouts.
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Companies began to see the strategic value of a well-executed Chapter 23 case, using reorganization to shed financial obligations, such as jury awards in product liability cases or the debt amassed in leveraged buyouts.
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While activist investors such as Carl Icahn have acquired companies before, New York-based Elliott, with assets of more than $35 billion, is one of the few hedge funds with a dedicated team chasing buyouts.
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The parcel company announced in December that it would be offering voluntary buyouts to ease pressure on profits that have been hit by troubles in its express delivery unit and the integration of European company TNT.
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In addition to the elections, Fed policy, economic uncertainties and competition from cash-heavy corporations, leveraged buyouts continue to be curbed as regulators enforce lending guidelines designed to limit the amount of debt in those deals.
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In the first three months of 2018, 70 percent of leveraged buyouts were bolted onto private equity portfolio companies, the report by funding database PitchBook found, beating the previous high of 67 percent two years ago.
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This month, U.S. President Donald Trump signed a law allowing some of the national disaster relief fund to be used for pre-disaster projects, including home buyouts, according to an analysis by the Pew Charitable Trusts.
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The carrier's executives have said they plan to reduce annual operational costs by $300 million by 2020 and over the summer laid off some workers at its headquarters in New York and offered buyouts to others.
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Private equity firms also had a foot on the brakes, with buyouts of U.K. companies amounting to only $4.9 billion in the first half of 20153, down 75.4 percent compared to the first half of 2015.
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THE WALL STREET JOURNAL Bonds Show the State of Retail | Bonds of major retailers that went through leveraged buyouts have fallen to distressed levels, a signal that their private equity owners are running out of options.
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In an attempt to diversify its portfolio, the company has been pursuing several tuck-in acquisitions and buyouts, including its over $4 billion deal for Britain's BTG Plc, maker of products such as tumor-targeting beads.
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Such alliances, referred to as "club deals" in the private-equity industry, lost much of their allure following the 2008 financial crisis, as some high-profile leveraged buyouts either ended up in bankruptcy or underperformed financially.
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In Europe and the United States, private equity firms flex their muscles primarily via large buyouts, but in Asia they have also made a splash investing in growth companies, especially in the internet and technology sector.
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Building diversified private allocations that include early stage venture exposure, growth equity and operationally-focused buyouts is now necessary to drive returns by capturing growth across the corporate lifecycle and the full range of U.S. equities.
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Midcap firms were previously less able to finance buyouts cheaply, pursue opportunistic repricings and secure greater financial flexibility by adding incremental debt than big companies as they were seen as more risky and illiquid credit investments.
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The disclosure comes three months after Reuters reported that Mantle Ridge was exploring raising financing to make an offer to acquire Aramark, which would have been one of the biggest leveraged buyouts since the financial crisis.
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Lending to back both mergers of investment grade-rated corporates and leveraged buyouts leapt 21percent to a record $648.5 billion, well above the previous all-time high of $546 billion set in 98.913, according to LPC.
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NEW YORK, July 21 (LPC) - Leveraged buyouts (LBOS) are crowding a relatively bifurcated loan pipeline, with a series of transactions giving investors their fill of new money deals that are expected to price through early August.
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Private-equity firms, which are sitting on record levels of dry power - money committed but not yet invested, will also be active as they come under pressure to target bigger deals, particularly buyouts, bankers have said.
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TPG Special Situations Partners, an $18 billion fund within TPG that does transactions other than leveraged buyouts, participated in the deal, as did TPG Growth, which has invested in other start-ups like Uber and Airbnb.
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Investors are predictably excited to see the new money buyouts coming to the market after a barrage of refinancing and repricing deals that lasted in the first half of 6.213 as well as much of 2017.
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Imagine the Corps identifies 10 homes for buyouts, but only three people say yes, said Susan Layton, chief of planning and policy for the Corps' Norfolk District office, which is working on buyout plans in Florida.
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And, because buyouts are often undertaken only when an entire flood-prone neighborhood is interested, the cleared land becomes a buffer against the ravages of future storms, providing protection against flooding for those who live nearby.
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The recommendations, revised for the first time in 12 years, call for an independent committee to be set up by the target company in the case of management buyouts, to assess whether the deal is fair.
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Since President Trump took office, his name has been removed from hotels in Toronto and in the SoHo neighborhood of New York, though both changes came through negotiated buyouts and the Trump Organization did not resist.
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The free-market economist Edward Glaeser has pointed out that the junk bonds and leveraged buyouts of '70s and '80s Wall Street were as much the product of human collaboration as they were of corporate greed.
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Hundreds in the town have demanded that city officials sign off on using emergency assistance funds from FEMA to provide them with buyouts, which would allow the city to purchase residents' homes at their assessed value.
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That's because federal statutes mandate that any city conducting buyouts for disaster relief with FEMA money have to demolish the properties they acquire, with the land they sit on used as open public space in perpetuity.
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Colgate University, with an endowment worth $822 million last year, stood to benefit from blocker corporations in 2008 when it invested in Genstar Capital, a private equity fund specializing in leveraged buyouts, according to the records.
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It also reflects optimism that a private equity firm or a sovereign wealth fund would be willing to invest in a large retailer, after many major investors got burned in debt-fueled buyouts that went bust.
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But for the purposes of this story, and what you're often hearing about in high-profile cases, we're talking mainly about leveraged buyouts, where private equity firms buy companies basically by loading them up with debt.
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These lenders were chosen based on interest rate (APR) for each of the conditions above, including credit score, whether you&aposre buying new or used, and loans for a specific need like refinancing or lease buyouts.
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Karen Keiser, would allow Washington to conduct mass buyouts of insulin, control insulin costs, import prescription drugs for state employees and create both a pharmacy benefit board and a pharmacy tourism board, according to the paper.
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Carlyle, which manages $195 billion and invests in private equity buyouts, real estate and credit, struck a cautious tone for putting money to work in 7.43, in part due to the recent turbulence in financial markets.
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In the face of deficits, the Met has been working over the last several months to shave $31 million from its operating budget through voluntary buyouts and layoffs, and to increase revenue from its retail stores.
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Nevertheless, the more private-equity firms are getting involved in leveraged buyouts, the more their business practices are expected to come under scrutiny in 2020, Tom Whelan, a private-equity partner at McDermott Will & Emery, said.
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The firm's launching of the division served as the latest sign that private-equity firms were continuing to expand beyond their roots of leveraged buyouts and into other asset classes, like credit, infrastructure, and growth equity.
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Such alliances, referred to as "club deals" in the private equity industry, lost much of their allure following the 2008 financial crisis, as some high-profile leveraged buyouts either ended up in bankruptcy or underperformed financially.
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Leveraged lending guidance from the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp, which was updated in 2013, curbed debt limits in buyouts and encouraged quick debt repayments.
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The capital being allocated to the private markets is expected to keep ballooning, and private-equity firms will engage in more and larger buyouts, making them a more vital player in the global economy, experts said.
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Lending to private equity buyouts almost doubled year-on-year in the fourth quarter of 22015 to US$22.3bn from US$29bn in 22017 after a flurry of dealmaking followed the US election in early November.
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Known for multibillion dollar corporate takeovers that were in vogue before the 2008 global financial crisis, the U.S. private equity industry has had a slow start this year after investor aversion to risk reduced funding for buyouts.
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"Macquarie has undoubtedly been taking advantage of the whole leverage lending guidance/regulated bank dynamic to seize their position and put their balance sheet to work without leading deals," said a lawyer who focuses on leveraged buyouts.
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Unitranche loans are typically seen on small to mid-sized buyouts and are popular with investors for high yields and private equity firms for ease of execution and certainty of funding in volatile or capital constrained markets.
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Read More And that means, now, that private equity firms can't borrow as much cash for big buyouts; instead, the debt-to-equity ratio for private equity firms like Apollo is closer to 50-50, Harris said.
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WM: In Europe, [the investors on the ground are] very much early stage or buyouts or else guys who may call themselves growth equity investors but are really doing growth-buyout deals with a lot of debt.
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General Motors has offered voluntary buyouts to 18,000 salaried employees in North America who have at least 12 years of experience, as the automaker looks to cut costs all while investing in its electric and autonomous future.
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However, a surge in private-equity dealmaking, fueled by cheap debt and record fundraising, is leading to bigger leveraged buyouts, requiring private-equity firms to write bigger checks and prompting them to consider teaming up once again.
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Instead, Anchor Hocking's decline was the result of a series of bad buyouts and bad management, beginning when trader (and Donald Trump's Special Adviser on Regulatory Reform) Carl Icahn temporarily gained control of the company in 1982.
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As BDCs doubled in size since 2013, Refinitiv data shows levels of debt relative to profits have risen to 4.75 times from 4.2 times for mid-sized companies that borrowed to finance buyouts, according to Refinitiv data.
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One option could be to approach direct lenders, which are proving more receptive to challenging credits, as seen in recent European buyouts of Spanish frozen fish producer Iberconsa and German chemicals group Evonik's methacrylates plastics unit, Madrid.
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The recent surge in deal supply of leveraged and public-to-private buyouts has been welcomed by lenders and investors after low volume in the first half of the year, but is giving arranging banks' a headache.
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BOSTON (Reuters) - Fidelity Investments plans to offer voluntary buyouts to employees who are 55 years or older, and who have worked for the Boston-based fund firm at least 10 years, a company executive said on Monday.
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Ten years later I had built GMM into one of the largest suppliers of nonstick coatings in the world, and we were acquired by a multibillion-dollar conglomerate in one of the largest buyouts in our industry.
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News of the investment comes roughly three months after Hilal held talks with banks about raising financing to buy the company, which would have laid groundwork for one of the biggest leveraged buyouts since the financial crisis.
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In efforts to reduce potential systemic risks, regulators in the last three years have increased pressure on the U.S. leveraged loan market and the result has been less loan volume and, on average, lower leverage for buyouts.
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Private equity buyouts have enjoyed the strongest start to a year since before the financial crisis as fund managers have come under intense pressure from investors to deploy some of the record amount of capital they hold.
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In one of the largest buyouts since the credit crisis, Moody's Investors Service said leverage was 7.6 times as of June 30, while the private equity firm says total leverage is 5.3 times after punchy Ebitda adjustments.
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Although Uber has a decent war chest to continue to build its operations in its many international markets, Didi is better capitalized, and has an alliance with SoftBank, the deepest pocket in VC, PE and buyouts today.
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Embraer already cut nearly 8 percent of its workforce this year through voluntary buyouts and is aiming to reduce annual operating costs by $200 million amid weak business jet demand and a downturn in Brazilian defense spending.
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Buyout firms largely have refrained from attempting leveraged buyouts of U.S. retailers in the past two years, amid a wave of bankruptcies in the sector that have included Sports Authority, Rue21, Gymboree and BCBG Max Azria LLC.
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One leveraged banker said the surge in leveraged M&A activity in 2015 had not been reflected in sponsor-backed leveraged buyouts - where private equity firms have struggled to win out against trade buyers and IPO valuations.
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"The freed slaves made it what it is," said Mayor Bobbie Jones, 1003, who wants the levee improved and opposes the buyouts and hopes residents who want to leave will first seek private buyers, perhaps like himself.
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However, a surge in private equity dealmaking, fueled by cheap debt and record fundraising, is leading to bigger leveraged buyouts, requiring private equity firms to write bigger checks and prompting them to consider teaming up once again.
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Leverage over six times on software buyouts isn't unusual, as the industry often generates strong enough cash flows to repay a minimum of 50% of total debt within the five- to seven-year window stipulated by regulators.
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That is why private equity deals used to be known as leveraged buyouts — the tax code favored the use of debt, and lots of it, over equity by making the interest paid on the debt tax deductible.
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The private equity firm is one of the few to continue to invest in retail, even as the changing landscape has thrown a number of private equity-backed buyouts, like Toys R Us and Payless ShoeSource, into bankruptcy.
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All told, 15,500 media professionals lost their jobs in 2018, and the slashing is continuing though this year, with more than 3,000 reporters, editors, and other staff being laid off or given buyouts since the beginning of January.
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Over the last several years, a new, insidious relationship has quietly developed between the nation's largest private equity firms, the banks that lend them billions to fund their buyouts and the law firms that advise on these deals.
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NEW YORK (LPC) - Leverage levels for buyouts are close to pre-credit crisis levels as banks are more willing to underwrite highly leveraged deals following the Office of the Comptroller of the Currency's softened stance towards lending risk.
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NEW YORK (IFR) - Leveraged buyouts are making a comeback after a quiet start to the year, but stiff competition is forcing underwriters to pitch terms that some feel are too aggressive with credit spreads approaching post-crisis tights.
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Update: In an article published later Wednesday, The Times says it will also offer buyouts to its newsroom employees, with the hope of peeling back the layers editing they've long championed as a part of its editorial process.
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The deal, potentially one of the biggest leveraged buyouts of the year, would come after activist hedge fund Starboard Value LP disclosed a 4 percent stake in Zayo last month and pressed it to seriously consider a sale.
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In what is the biggest US bank merger since the financial crisis, the bulked up balance sheet means more resources to expand the combined bank's syndicated lending for acquisitions, buyouts and middle market company growth efforts, bankers said.
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Mr. Smith has invited this kind of scrutiny by spending up to $85 million for a boutique art advisory business in January even as he reduced staff by 80 people through buyouts, incurring an expense of $40 million.
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While activist investors have made offers for companies in the past, New York-based Elliott, with assets of more than $33 billion, is one of the few hedge funds with a dedicated team chasing buyouts of whole companies.
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While buyouts are a politically sensitive topic, a voluntary program that purchases extreme repetitive loss properties would reduce NFIP's exposure and greatly assist those homeowners who now have properties they cannot sell because the value is so diminished.
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The Postmedia Network Canada Corporation, which owns the National Post and is the leading newspaper publisher in several major Canadian cities, including Vancouver and Calgary, said that it would cut 800 jobs through buyouts and, if needed, layoffs.
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The Met said recently that its deficit of about $10 million — which necessitated a recent round of buyouts and layoffs — was the result of several factors, including an increase in younger visitors who pay less at the door.
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Several such clawback cases over buyouts that were hammered out in the years before the financial crisis but later failed have resulted in thousands of shareholders now fighting to keep the money that was paid out to them.
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The agency is expected to shed about 2,000 jobs in the restructuring process, State Department officials told CNN, but plans to do so over the next two and a half years through attrition rather than layoffs or buyouts.
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More recent critical articles have surfaced as well, including recent news reports of a newly-released academic study looking at private equity buyouts between 1980 and 2013, finding that PE ownership of companies led to fewer jobs there.
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The state needs to begin exploring managed retreat from areas that are particularly threatened, offering buyouts to homeowners with properties in low-lying areas so that their land can be turned into flood-absorbing wetlands or aquatic parks.
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The growing list of fee discounts threaten to reduce banks' profits on underwriting loans backing private equity buyouts, which at around 1.75% of the financing is a key source of income for banks in an increasingly competitive market.
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And that all comes as the capital being allocated to the private markets is expected to balloon and PE firms engage in more and larger buyouts, making them a more vital player in the global economy, experts said.
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New York (CNN Business)The Los Angeles Times is offering its staff voluntary buyouts less than two years after biotech billionaire Dr. Patrick Soon-Shiong swooped in to buy the beleaguered newspaper in hopes of turning it around.
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The acquisition of Neuroderm by Mitsubishi Tanabe Pharma for $1.1 billion also boosted the volume of exits - including M&A, IPOs and buyouts - last year, according to the Israel Venture Capital Research Center and the Meitar law firm.
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With an expansion draft less than a week away and a bunch of trades, buyouts and other maneuvering that presumably has to happen before then, we could be looking at one of the busier weeks in recent history.
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CALGARY/TORONTO, Feb 1 (Reuters) - Canadian private equity investments overseas surged to record levels in 2015 on the back of some major buyouts by Canadian pension funds across a wide range of sectors, according to data released on Monday.
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But it may raise some eyebrows, given that Sotheby's just went through a round of buyouts that decreased its staff by about 221.67 people, which the company expected would result in a fourth-quarter charge of about $252 million.
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The WCW and ECW tape libraries came with their respective buyouts, and WWE went on to cut deals with the scions of the old territories to get more or less all the extant tape libraries in the United States.
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Not a single high-yield bond - the staple financing for leveraged buyouts - has been issued this year as banks are struggling to sell them to customers, a development that some bankers say hasn't occurred in more than 20 years.
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VW's labour leaders said management had agreed to avoid forced redundancies in Germany until 2025, a step which clears the way to cutting 23,000 jobs via the more palatable methods of buyouts, early retirements and reducing part-time staff.
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Through an interpreter, Ferid explained that the government had shut off water and power to the apartments, with residents being forced to accept property buyouts and move far out of the city to apartment buildings in more affordable neighborhoods.
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BUENOS AIRES, April 11 (Reuters) - French retailer Carrefour reached a deal for voluntary buyouts with workers in Argentina as part of a crisis prevention plan that aims to end three years of losses, a union representative said on Wednesday.
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The company said in a statement it would transfer management of its pension plans for about 36,000 retirees to a third-party as well as offer lump sum buyouts instead of monthly pension payments to an estimated 10,000 retirees.
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While the Australian government has faced questions over its handling of Chinese government-linked buyouts in other infrastructure sales, the Port of Melbourne deal didn't attracted interest from Chinese players, one of the people familiar with the matter said.
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The pipeline is also building for the second half of 2019 as as weaker equity markets produce more public-to-private buyouts, and auctions including Bayer's animal health division and Irish building materials group CRH's European distribution arm continue.
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Inside EPA reports that Trump's imminent budget proposal for fiscal year 2018 includes a 25 percent cut to EPA's budget, which will reportedly manifest in mass layoffs and buyouts, and the end of quite a few popular environmental programs.
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NEW YORK (LPC) - A record $1.45 trillion of US syndicated lending to companies for acquisitions, leveraged buyouts, dividends and refinancing in the first half of the year has propelled bank fees from arranging the loans to all-time highs.
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The Wall Street Journal, one of the strongest in digital publishing, is offering a fresh round of newsroom buyouts and considering closing sections of the paper after falling behind budget by 30 percent, according to a report in Politico.
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VW's labor leaders said management had agreed to avoid forced redundancies in Germany until 2025, a step which clears the way to cutting 23,000 jobs via the more palatable methods of buyouts, early retirements and reducing part-time staff.
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But Mr. de Nysschen also frustrated Cadillac dealers with Project Pinnacle, his carrot-and-stick plan that offered tiered incentives to dealers who invested in showroom upgrades and Lexus-style customer service — and steered others toward $180,000 franchise buyouts.
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A handful of veterans in the final year of their contracts will secure buyouts from their current teams before March 1 in time to preserve their playoff eligibility to join title-chasing teams such as the Lakers and Clippers.
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With the Varga plotline, Noah Hawley and his writers have cleverly elevated the legal violence of leveraged buyouts to the gruesome violence of a capitalist raider who will kill whomever he has to in order to secure his investment.
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The bond referendum would help pay for projects to be chosen from a list of more than 230 proposals that include home buyouts, the construction of additional stormwater detention basins and the expansion of area bayous, among other options.
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GM tried to shed that obligation last year by offering buyouts of about $3,500 per worker, Tortolero said, but workers spurned the offer because it seemed small in comparison to the pay and benefits the workers had previously enjoyed.
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Given publicly traded companies that are not as indebted will have more cash under the new tax system to make rival offers for assets, the changes could make leveraged buyouts harder to complete on attractive terms, investment bankers said.
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It is widely expected that both players will seek contract buyouts from the Knicks if they are not traded again before the deadline so they can seek roster spots with playoff-bound teams for the remainder of the season.
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According to court documents obtained PEOPLE, nine mostly former employees sued for $1 million in punitive damages after the owners allegedly "wrongfully converted" the 22% gratuity charged at private events and buyouts, where clients pay to rent the entire restaurant.
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If someone wanted out of a deal, "most of the time we let them out," he said, as long as they repaid money the investors had shelled out as down payments, or on getting rid of tenants through evictions or buyouts.
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Goldman Fills Vacuum in Leverage Buyout Market | Goldman's GS Mezzanine Partners VI fund has been one of the most aggressive financiers of leveraged buyouts and is the biggest fund of its kind after raising about $8 billion last year. REUTERS
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United Technologies — The industrial conglomerate will cut its pension liabilities by a total of about $1.77 billion this year, as it transfers management of its plans to a third party and offer lump sum buyouts to about 10 thousand retirees.
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Global leveraged buyouts reached $154 billion in the first seven months of 2018, up 15 percent from the same period last year but still below the $464 billion in the first seven months of 2007, according to Thomson Reuters Deals Intelligence.
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Over the next 30 years, Anchor Hocking experienced a series of leveraged buyouts and private equity purchases, each of which saddled the company with a growing debt load and highly credentialed management with little-to-no experience in glass making.
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PARIS (Reuters) - PSA Peugeot Citroen plans to cut more than 20163,000 jobs, around 3 percent of its workforce, in France next year through a combination of early retirements and voluntary buyouts, France Info radio reported on Monday, citing internal documents.
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Carlyle's $15 billion fund could be the largest pool ever focused on buyouts in the U.S. region, Bloomberg reported, as private equity firms are raising ever-bigger pools of capital to provide returns to investors amid near-zero interest rates.
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