Hints and tips:
...It was also the vehicle Berkshire used to buy Pilot Flying J, a truck-stop operator....
...Alphabet, Meta, Microsoft and Apple hold dominant positions in increasingly mature industries (digital ads, enterprise software and smartphones)....
...“At Berkshire, we particularly favour the rare enterprise that can deploy additional capital at high returns in the future,” he said on Saturday....
...Weschler, 61, started out as a junior financial analyst at WR Grace before helping to start private equity group Quad-C Management, then launching his own hedge fund in 2000....
...On Monday, the Pittsburgh icon US Steel announced it had reached a deal to sell itself to Japan’s Nippon Steel at a total enterprise value of $15bn....
...To manage the growing liability, J&J deployed a controversial bankruptcy manoeuvre known as the Texas two-step....
...A federal appeals court said the bankruptcy process could not be used by an enterprise that was not facing “financial distress”....
...Strip that away and that would give the deal an enterprise value of about $16.6bn. That still puts the company on an EV/ebitda multiple of over 58 times....
...“Ain’t nothing trickling down” from the Reagan presidency; the C-suite is clogged with Ivy League deadbeats....
...W.J....
...Science is finally starting to cut the Big C down to size....
...To manage the growing liability, J&J recently deployed a controversial new bankruptcy manoeuvre known as the Texas Two-Step....
...That would be more than 15 per cent higher than the current enterprise value....
...Lynch loses Autonomy fraud caseMike Lynch, the billionaire founder of software maker Autonomy, has lost a fraud case brought by Hewlett Packard Enterprise....
...Incidentally, a plethora of media outlets (inc....
...They favour themes such as renewable energy, mass consumption, manufacturing and reforms to state-owned enterprises....
...Recall how J Sainsbury’s £7bn bid for Asda was kiboshed by antitrust regulators in 2019....
...Once carved out of PepsiCo, the new juice company will have an enterprise value of $4.5bn, of which roughly $2.2bn will be equity and $2.3bn debt....
...CD&R’s offer places an £8.7bn enterprise value on Morrisons. This underprices its vision for the company. CD&R must provide a firm intention to bid again, or walk away, by July 17....
...That was around a quarter of the company’s $67bn enterprise value when it acquired the business six years ago....
...In July, NGFS updated its climate risk scenarios to limit global warming to 1.5°C....
...Maybe we just don’t need J Crew any more....
...Pending further analysis, we assume a run-rate FCF of c.£75m, below the £97m generated in FY19....
...Among the menu of aggressive covenant terms was a clause that allows the owners to move assets into a subsidiary out of the reach of bondholders — a feature made famous by retailer J Crew....
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