Hints and tips:
...Meanwhile here’s Lex on why private equity appears to be a superior model to hedge funds. Capital is locked up for years. Owners control companies. Choppy cycles can be ridden out....
...On Wednesday, the Hertz board determined that the offer from Knighthead received last week constituted a “superior proposal”....
...Hertz’s bankers at Moelis & Co had to run the numbers through their spreadsheets before all sides would gather to hear the announcement that a bid had been deemed superior....
...Just three weeks ago EQT began exclusive discussions to acquire the $10bn skincare unit of Nestlé after one of the fiercest European auctions of recent years....
...Sky auction won by Comcast So, the Sky really was the limit for Comcast, in the sealed bids auction for the pay-TV group this weekend....
...Target: Pharmacyclics Inc | Acquirer: AbbVie Deal value $21bn | Premium 61% No auction was more hotly contested than that of Pharmacyclics, which made a single drug, Imbruvica, for blood cancer....
...“It is imperative that the 21st Century Fox board runs a fair auction . . . and sells it to the highest bidder,” he added....
...The auction, one of the biggest private equity deals seen in Asia, will see the Mei-led consortium taking GLP private, resulting in a delisting for the group with an enterprise value of $18.3bn....
...Underpinning many of the new advertising formats, meanwhile, has been the development of so-called “programmatic” technology that automates the real-time aggregation and auction of advertising space....
...The Nexstar proposal includes a contingent value right entitling Media General shareholders to cash proceeds from the sale of Media General spectrum in an upcoming federal auction....
...of $1.85bn in cash and stock, valuing Media General at $4.1bn including debt, “significantly undervalues Media General and its prospects”, including the spectrum the company expects to sell in upcoming auctions...
...However, Google and Facebook then adjust the bids to re‡ect their best guesses of what the user wants to see, and in that way try to leverage their superior data. Get that?...
...Google’s technology, after all, uses online auctions and markets — the wisdom of the crowd, not human curation....
...Verizon has also offered some sweeteners — such as $100 off an iPad when purchased with an iPhone — but it has refrained from engaging in some of the deeper price cutting, hoping that its superior network...
...And there is another big spectrum auction on the way which will sop up more cash....
...“That’s far superior to what most cows are fed,” says Mr Lewis. Allergy research is also under way....
...They have done this in spite of scant evidence that the industry is able to earn superior returns on the swelling ocean of cash at its disposal....
...The auction house then issued a rebuttal to the findings on Thursday, urging shareholders to back the directors elected by its current board....
...He started his case in 2010, after finding that a Google search of his name brought up a two-decades old article that detailed the auction of a house he was forced to sell to settle his debts....
...Last year Cerberus lost out in an auction for Harris Teeter Supermarkets to Kroger, which paid $2.4bn for the grocery chain....
...The company has long enjoyed a near-duopoly in fine art auctions alongside London-based rival Christie’s. However, in 2012, sales at Sotheby’s totalled $5.4bn, down 7 per cent from 2011....
...That way, investors know they may be held to their highest offer, with no superior bids left once trading starts....
...Any advantage from superior network investment could anyway be shortlived; telecoms companies tend to invest fastest when rivals are already doing so....
...From next week, Citi will hold a series of silent auctions and challenge senior staff to “dares” in order to raise the $250,000 in funds it needs to compete....
...The offer by Superior Aviation Bejiing would need approval of bankruptcy courts and a competitive auction process might see further bidders come forward....
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