Hints and tips:
...The new conditions will test industry giants such as Blackstone and Carlyle, and dozens of fast-growing firms including Thoma Bravo, Vista Equity Partners and Platinum Equity, which have seen their assets...
...The buyout group sold McGraw Hill to Platinum Equity for $4.5bn last year. Pearson this month said it had rejected an 854.2p offer from Apollo, and had also rejected an 800p offer in November....
...It also revealed that had rejected an earlier all-cash offer of 800p in November....
...The US credit card business, especially for high end cards such as Amex Platinum, is more competitive than it used to be....
...For instance, despite the cut in Anglo’s capital expenditure (capex) budget and dividends, we expect a materially lower 2016 EBITDA to lead to negative discretionary cash flows (free operating cash flows...
...Mr Cutifani is also trying to redouble cost-cutting at the miner, which analysts say will struggle to fund its dividend from its cash flows at prevailing commodity prices....
...They fix troubled businesses to increase cash flow,” said Mr Baker. “Hansen is a hedge fund guy who is used to investing in what he views as troubled situations....
...cash flow ratios....
...Carlyle agreed to sell Diversified Machine, a car parts maker, to Platinum Equity for an undisclosed sum....
...Alec and Tom Gores, the brothers who control Gores Group and Platinum Equity respectively, bid aggressively for Warner Music but are understood to have decided against an offer for EMI....
...It wrote down the loans by £2.2bn in February, leaving EMI capitalised with £300m of cash and £1.2bn of debt....
...But while platinum – Mr Anderson’s choice – is used in diesel cars, driven by cash-strapped Europeans, palladium is used in petrol cars, which are the predominant choice for the new affluent middle classes...
...According to Uri Landesman, president of Platinum Partners, a New York-based hedge fund, technicals are going to be key over the coming months....
...“The actual number is likely to be lower since …cash balances are not captured. Leverage for the average equity long short manager is more likely to be around 140-160 per cent,” he said....
...It was a movement that was always supposed to transcend the cash. Success was viewed very warily....
...“A lot of portfolio companies need cash to solve debt problems in the US and Europe,” said one dealmaker familiar with both sale processes....
...GM will provide $2bn in cash toward Platinum’s purchase of Delphi. Calls to Delphi and GM were not returned, while Platinum declined to comment....
...It has poured $12.5bn into Delphi during the past four years, mostly to bolster cash flow and to support benefits for unionised workers, many of whom worked for GM before the spin-off....
...It has poured $12.5bn into Delphi during the past four years, mostly to bolster cash flow and support benefits for unionised workers, many of whom worked for GM before the spin-off....
...“With deals such as the Principles transaction capable of driving faster operating profit and cash flow growth, we believe that the chances of Debenhams breaching its covenants are receding rapidly,” it...
...The city has world-class higher education establishments, but its state school system is grappling with falling graduation rates and a cash-crunch....
...Xstrata recently pulled its offer for platinum miner Lonmin, while InBev is said to be considering including shares in its $52bn takeover of Anheuser-Busch....
...Platinum Grove, chaired by Nobel-prizewinning Mr Scholes since LTCM failed, has far stricter controls on leverage and much greater disclosure than LTCM in order to reassure investors, according to one client...
...All of which means any offer for Xstrata would have to be funded mainly in cash and that could be problematic in the current environment....
...“Some clients are paying cash.”...
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