Inexperience in LBO Lending: A Dangerous Game

June 28, 2013 09:49 by Clayton Reeves in Financing, M&A  //  Tags:   //   Comments (0)
Mark Gaffin at the Gaffin Group offers some solid advice on the dangers of inexperience in LBO lending.  With the current deal drought, many lenders are trying to diversify their offerings and entering into a leveraged buyout market that can be dangerous for the inexperienced.  In the arti... [More]

How good is your crystal ball on interest rates?

June 27, 2013 10:22 by Bill Conway in Economy  //  Tags:   //   Comments (0)
The following is a post from Dallas Wells of Asset Management Group, Inc., a subsidiary of Country Club Bank.

I will admit, my own crystal ball was a little hazy on this one. We are in a very unique situation with interest rates, as the level of central bank intervention across the globe has seriously distorted markets. The short end of the yield curve is always Fed driven, but with the QE programs, the Fed has been attempting to also control the long end of the curve. I think what the last few weeks have shown us is that while the short end of the curve may remain anchored near 0%, the long end could turn quite volatile on us. The mere whiff of change in Fed strategy wreaked havoc in the bond markets, and has moved the 10-year 100 basis points.

So, raise your hand if you saw this coming?
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Sprint Shareholders Approve $21.6 Billion Acquisition by SoftBank

June 27, 2013 10:05 by Clayton Reeves in M&A, Telecom  //  Tags:   //   Comments (0)
After nearly eight months of drama and deal making worthy of its own television series, Sprint investors have agreed to be acquired by SoftBank for $21.6 billion.  Softbank has the majority of regulatory approvals in line, although they still need to be cleared by the FCC (Federal Communication... [More]

Tenet Announces Acquisition of Vanguard

June 25, 2013 12:58 by Clayton Reeves in Capital Markets, Healthcare, M&A  //  Tags:   //   Comments (0)
Tenet has announced that they will acquire Vanguard Health Systems in a deal valued at $4.3 billion including the assumption of $2.5 billion in Vanguard debt. The deal is expected to close by the end of this year. Tenet anticipates annual synergies between $100-200 million. The offer price of $21 re... [More]

PE Firms Finding Exits Easier Than Investment Opportunities

June 25, 2013 12:33 by Clayton Reeves in Capital Markets, M&A, Private Equity  //  Tags:   //   Comments (0)
In an article on Dealbook today, this year $62 billion worth of deals larger than $1 billion have been announced, according to Thomson Reuters. That seems to be a positive indicator, as it represents a higher value than all of 2012; however, the purchase of the Heinz Company ($27 billion) and Dell I... [More]

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