Hints and tips:
...The case centred on the $33bn LBO of HCA, which was won by Bain Capital, KKR and Merrill Lynch, after there were no other competing bids....
...The litigation, which had been making its way through district court in Massachusetts since 2007, was predominantly based on damaging emails, some revolving around the $33bn purchase of US hospital group HCA...
...Sheryl Skolnick, an analyst at Capital Group LLC who has been closely following the issue, said Ms Sebelius’ willingness to entertain the Arkansas model had prompted other states, including Florida, Tennessee...
...Sharon Allen, former chairman of Deloitte; Jack Bovender, former chairman of HCA, the hospital operator; Linda Hudson, former chairman of the US arm of BAE Systems; and David Yost, former chief executive...
...The company unveiled plans this week for a dividend of $2 per share, totalling $870m, after reporting a rise in earnings related to the acquisition of the Denver-based hospital group HealthONE....
...Last year, the IPOs of HCA and Nielsen required large payments of debt in order to make them palatable to the markets. Their offerings raised no money for the private equity firms backing them....
...Following a surge of big exits at the beginning of last year, which included IPOs by HCA, Kinder Morgan and Nielsen, the market quieted for much of the remainder of the year....
...Aside from rare success stories – such as HCA, the US hospital operator taken private by KKR, Bain and Merrill Lynch for $31bn, which floated earlier this year or KKR’s Dollar General – private equity groups...
...IPOs of private-equity owned companies this year such as Nielsen Holdings and HCA have seen the proceeds mostly go toward debt repayment rather than liquidity for the buy-out groups who own the companies...
...HCA, like the others that have gone public this year, is profitable and able to pay its interest costs....
...Private equity groups have seen the value of their portfolios recover from post-crisis lows, reflected in strong IPOs for groups such as Kinder Morgan and HCA....
...NYSE had multibillion listings for private equity-held groups HCA and Kinder Morgan in 2011, as well as GM’s $18bn IPO in November....
...Companies such as Harrah’s Entertainment have withdrawn their IPOs, and HCA and Toys’R’Us have delayed them until 2011....
...IPOs for Toys R Us and HCA, both controlled by KKR & Co. and Bain Capital, have filed registrations for public offerings, but did not issue shares as expected this year....
...It also wrote up the value of its investment in HCA, the US’s biggest hospital operator....
...HCA, the largest US hospital operator, is owned by a consortium including Bain Capital, Kohlberg Kravis Roberts and Merrill Lynch....
...When EOP agreed to be bought by Blackstone in November, it was the largest leveraged buy-out, narrowly exceeding the $33bn takeover of HCA, the hospital chain, by Bain Capital, Kohlberg Kravis Roberts and...
...It is brought by shareholders in Univision Communications, HCA and Harrah’s Entertainment....
...Blackstone’s takeover of EOP was slightly larger in size than the July 2006 purchase of HCA, the hospital operator, by Bain Capital, Kohlberg Kravis Roberts, and Merrill Lynch, for $33bn....
...When EOP agreed to be bought by Blackstone in November, it was the largest leveraged buy-out on record, narrowly exceeding the $33bn size of the July 2006 purchase of HCA, the hospital chain, by Bain Capital...
...Among the year’s biggest public-to-private deals were HCA, the US hospital chain, bought for $32bn....
...Its buy-out partners include Bain Capital (which is a partner with KKR and Merrill Lynch in the HCA deal), Berkshire Partners, Clayton Dubilier & Rice and Madison Dearborn Partners....
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