Loading...
The Wire April 7, 2021
Avista's UBC prepares for sale, WindRose recaps Veristat, Toshiba confirms CVC's buyout proposal
It’s hump day, readers!
In today's news, Avista Capital Partners is gearing up for a sale of United BioSource Corporation, the provider of pharmaceutical support services it carved out from Express Scripts over three years ago, people familiar with the matter told PE Hub. Elsewhere in pharma services, WindRose Health Investors announced this morning the completion of an equity recapitalization of Versitat Group, a global clinical research organization (CRO).
Big one: Confirming various media reports, Japan’s Toshiba Corp. confirmed Wednesday it had it had received a buyout proposal for acquisition from CVC Capital Partners. The company said it planned to “ask for further clarification and give it careful consideration" and "make further a further announcement in due course." The Nikkei was the first to report on the proposal, writing that CVC is evaluating more than $20 billion deal, which would represent a 30 percent premium over the Japanese industrial group's share price.
Read the full wire commentary on PE Hub...
That’s it for me! Enjoy the week ahead, and as always, write to me with comments, feedback or tips at springle@buyoutsinsider.com
Also of note (may require subscriptions)
On the hunt: Apollo Global Management is searching for an executive to launch and lead its secondaries unit, Secondaries Investor writes. Find out which executive search firm was hired here.
Florida: Florida Retirement System Trust Fund's in-state investment program has seen positive returns on its most recent capital commitments, but the program still trails the $183 billion pension fund’s internal private equity benchmarks, Buyouts writes. Read it here.
NFTs: Wall Street Journal writes that baseball-card maker Topps Co. is going public through a combination with a special-purpose acquisition company that sees potential for Topps’ expansion in the digital collectibles market. Read more about the $1.16 billion deal on WSJ.
PE Deals
They said it
“This market is craving specialisation,” he said. “The underwriting capabilities and people that you need - it's a totally different business on the GP-led side when buying a single company.”
Michael Woolhouse, who co-leads US and European secondaries for TPG, said in an interview for PEI's GP-led Secondaries Special last month.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN
To update your PE Hub email preferences, or to unsubscribe, click here. |
Loading...
Loading...
