CCCA Economic Dashboard: July 12th, 2013

July 15, 2013 17:39 by Clayton Reeves in Capital Markets, Economy, Financing  //  Tags: , , ,   //   Comments (0)
Attached is the CCCA economic dashboard as of July 12th, 2013. Click here to view a larger image.

First Half of 2013: PE Deal Flow Continues to Struggle

July 11, 2013 11:59 by Clayton Reeves in Capital Markets, M&A, Private Equity  //  Tags: , , ,   //   Comments (0)
For dealmakers, 2013 was primed to be an active time with optimism returning to markets and dry powder being expended in the form of M&A transactions.  In terms of the private equity, this did not come to fruition during the first half of the year. According to Pitckbook, deal flow continu... [More]

Retail M&A Showing Signs of Life?

July 10, 2013 17:20 by Clayton Reeves in Capital Markets, M&A  //  Tags: ,   //   Comments (0)
Although year to date M&A has been sluggish in many sectors, today marks the second large deal in the retail space this week. First, grocery giant Kroger announced a definitive merger agreement with Harris Teeter. Kroger will pay $49.38 in cash in a deal that is valued at roughly $2.5 billion. H... [More]

Chinese Investment in the U.S. Continues to Grow

July 10, 2013 09:32 by Clayton Reeves in Agriculture, Capital Markets, M&A  //  Tags: , , , , ,   //   Comments (0)
Despite political, regulatory, cultural and geographic obstacles to Chinese firms investing in the U.S., they continue to do so at a growing rate. Chinese figures show that their investment in the U.S. grew to $9.3 billion in 2012 from $1.88 billion in 2007. U.S. figures were even more extreme, con... [More]

CCCA Economic Dashboard: July 5th, 2013

July 8, 2013 17:04 by Clayton Reeves in Capital Markets, Economy  //  Tags: , , ,   //   Comments (0)
Attached is the CCCA economic dashboard as of July 5th, 2013. Click here to view a larger image.

Aqua America: A Deal Making Machine in 2013

July 8, 2013 09:30 by Clayton Reeves in M&A, Utilities, Water  //  Tags: , , , , ,   //   Comments (0)
Aqua America announced last week that it has completed acquisitions of seven water and wastewater utility systems through June of this year This includes three in NC, three in PA, and one in VA. In PA, Aqua Pennsylvania (Aqua America's PA subsidiary) acquired Total Environmental Solutions, Inc., (TE... [More]

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?
[More]

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]

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