Sabre Corporation (SABR) IPO Opens Higher Apr 17, 2014 10:09AM

The IPO for Sabre Corporation (Nasdaq: SABR) opened for trading at $16.79 after pricing its initial public offering of 39,200,000 shares of common stock at $16 per share, below the expected $18-$20 range.

The offering comprises 39,200,000 shares of newly issued Sabre common stock. In addition, the underwriters of the offering have a 30-day option to purchase up to an additional 5,880,000 shares of common stock from Sabre at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

Morgan Stanley, Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank acted as joint book runners for this offering. In addition, Evercore, Jefferies, TPG Capital BD, LLC, Cowen and Company, Sanford C. Bernstein, William Blair, Mizuho Securities, Natixis and The Williams Capital Group, L.P. acted as co-managers for this offering.

Sabre is a leading technology provider to the global travel and tourism industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre also operates a leading global travel marketplace, processing over $100 billion of estimated travel spend in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre employs approximately 10,000 people in approximately 60 countries around the world.


Blackstone Group (BX) Tops Q1 EPS by 15c Apr 17, 2014 07:15AM

Blackstone Group (NYSE: BX) reported Q1 EPS of $0.70, $0.15 better than the analyst estimate of $0.55. Revenue for the quarter came in at $1.51 billion versus the consensus estimate of $1.32 billion.

Q1 highlights:

-- Total Assets Under Management (“AUM”) reached $272 billion, up 25% year-over-year with double-digit increases across all investing businesses, through strong inflows and consistent appreciation.
-- Gross inflows were $10.2 billion in the first quarter and $62.0 billion for the last twelve months.
-- Blackstone’s funds returned $11.5 billion(a) of capital to investors during the first quarter and $41.9 billion(a) over the last twelve months as the environment for realizing gains remained strong.
-- Increased investment activity led to $7.4 billion of capital invested and/or committed during the first quarter, bringing the last twelve months to $21.6 billion.
-- Blackstone accelerated the release of its final annual K-1 tax forms which were made available to common unitholders in late March.

For earnings history and earnings-related data on Blackstone Group (BX) click here.


Symantec (SYMC) Said Attracting PE Activists for Possible Sale Apr 15, 2014 12:42PM

(Updated - April 15, 2014 12:42 PM EDT)

Symantec Corp (NASDAQ: SYMC) is attracting PE activists for possible sale, according to Reuters headlines.

UPDATE - First rumored a few weeks back, Symantec is active Tuesday on speculation that private equity firms might be taking a hard look at the company following the ousting of CEO Steve Bennett in March.

PE firms may include Bain Capital, ValueAct, Carlyle (Nasdaq: CG), Blackstone (NYSE: BX), among others.

More on the speculation here. Shares of Symantec have pared some gains, now down 0.2 percent.


Symantec (SYMC) Said Attracting PE Activists for Possible Sale Apr 15, 2014 12:42PM

(Updated - April 15, 2014 12:42 PM EDT)

Symantec Corp (NASDAQ: SYMC) is attracting PE activists for possible sale, according to Reuters headlines.

UPDATE - First rumored a few weeks back, Symantec is active Tuesday on speculation that private equity firms might be taking a hard look at the company following the ousting of CEO Steve Bennett in March.

PE firms may include Bain Capital, ValueAct, Carlyle (Nasdaq: CG), Blackstone (NYSE: BX), among others.

More on the speculation here. Shares of Symantec have pared some gains, now down 0.2 percent.


UPDATE: Blackstone (BX), Goldman Sachs (NYSE: GS) to purchase Ipreo from KKR & Co. (KKR) Apr 14, 2014 09:26AM

(Updated - April 14, 2014 9:26 AM EDT)

Blackstone (NYSE: BX) and Goldman Sachs (NYSE: GS) to purchase Ipreo from KKR & Co. L.P. (NYSE: KKR), according to Bloomberg headlines.

KKR acquired Ipreo about three years ago for around $425 million. Today's deal is valued around $975 million.

Ipreo was formed via a merger of i-Deal and Hemscott in 2006.

An official announcement could come sometime Monday.


More Private Equity

View Older Stories

Apr 14, 2014 09:26AM UPDATE: Blackstone (BX), Goldman Sachs (NYSE: GS) to purchase Ipreo from KKR & Co. (KKR)
Apr 11, 2014 07:14AM Carlyle Group (CG) Appoints Jeff Holland to Lead PCG
Apr 10, 2014 07:32AM Biogen Idec, Inc. (BIIB) Appoints New Strategy Chief
Apr 9, 2014 11:50AM Analyst Not Sure What Private Equity Sees in Chico's FAS (CHS); Wells Fargo Comments on Leonard Green's Stake
Apr 7, 2014 02:47PM UPDATE: Koch Said to be Near Takeover o CVC Partners' Flint Group with Goldman
Apr 3, 2014 05:23PM UPDATE: Boeing (BA) Considering Deal to Buy Mercury Systems (MRCY) - Reuters
Apr 2, 2014 08:28AM Lone Star to Acquire DFC Global (DLLR) in $1.3B Deal
Apr 1, 2014 01:30PM UPDATE: Anixter International Inc. (AXE) Deal Stalls - Bloomberg
Apr 1, 2014 11:02AM KKR (KKR) to Acquire Data Center Designer, Manufacturer Aceco TI
Mar 31, 2014 04:14PM UPDATE: Ares Management, L.P. (ARES) Files $100M IPO
Mar 31, 2014 07:57AM Encana (ECA) to Sell Certain Nat Gas Assets in Jonah Field for $1.8B
Mar 31, 2014 07:46AM Johnson & Johnson (JNJ) Accepts Carlyle's (CG) $4B Offer for Ortho-Clinical Diagnostics Unit
Mar 31, 2014 07:09AM Sterigenics to Acquire Nordion (NDZ) for $11.75/Share
Mar 28, 2014 09:02AM Safeway (SWY) 'Go Shop' Period Ends; No Other Offers Made
Mar 27, 2014 11:45AM Ares said to prepare for IPO - Bloomberg
Mar 25, 2014 08:04AM Carlyle Group (CG) Names Michael Cavanagh and Glenn Youngki as co-Presidents. co-COOs
Mar 21, 2014 11:32AM Carlyle-Owned Applus Looks to April for IPO Listing - Reuters (CG)
Mar 21, 2014 08:10AM TPG Acquires The Warranty Group for $1.5B
Mar 20, 2014 02:20PM Home-Sharing Giant Airbnb Takes on Venerable Lodging Names with Latest Funding (WYN) (AWAY) (H)
Mar 20, 2014 09:28AM Airbnb New Funding Sets Value at $10 Billion - Reports
Mar 18, 2014 05:03PM Nanosphere (NSPH), Aspire Capital Enter $20 Common Purchase Agreement
Mar 18, 2014 04:33PM J. Crew, Japan's Fast Retailing Merger Talks Break Down
Mar 17, 2014 04:22PM Alphatec (ATEC), OrthoTec Enter Litigation Settlement
Mar 17, 2014 09:32AM Encana (ECA) May Unload Wyoming Nat Gas Assets in ~$2B Deal (CG)
Mar 14, 2014 07:53AM Weak Q4 Results Hamper Aeropostale (ARO); Privatization Possibly on the Table - Analyst
Mar 13, 2014 04:04PM Aeropostale, Inc. (ARO) Posts Q4 Loss of 35c/Share; Enters $150M Financing Arrangement
Mar 13, 2014 09:47AM RA Capital Makes $7M Investment in pSivida (PSDV)
Mar 12, 2014 11:51AM Better Deal Probably Not in the Works for Safeway (SWY)
Mar 10, 2014 03:27PM Blackstone (BX)-Led Private Equity Consortium Preparing $5.5B Bid for Gates Global - WSJ
Mar 6, 2014 04:55PM Cerberus to Acquire Safeway (SWY) for $40/Share
Mar 5, 2014 03:47PM Three Years on, J. Crew Owners Look to Explore Options (KORS) (BURL)
Mar 5, 2014 02:35PM Safeway (SWY), Cerberus Deal on Hold as Kroger (KR) Takes Interest
Mar 5, 2014 01:36PM UPDATE: Safeway Inc. (SWY) Active; Kroger (KR) May Bid for All or Part of Co.
Mar 3, 2014 01:14PM UPDATE: Kroger (KR) Contacted Safeway (SWY) about Buying Assets - Bloomberg
Mar 3, 2014 07:25AM KKR & Co. (KKR) Files 4.9M Common Units Shelf for Shareholders
Mar 3, 2014 07:01AM Caesars (CZR) Announces $2.2B Sale of Certain Las Vegas Assets
Mar 3, 2014 06:12AM Tyco (TYC) to Sell South Korean Security Business in $1.9B Deal
Feb 28, 2014 03:44PM UPDATE: Riverbed (RVBD) Receives Buyout Interest Above Elliott's Offer - Bloomberg
Feb 26, 2014 10:39AM Aeropostale (ARO) Active as Company Explores PE Investment
Feb 25, 2014 05:11PM Aeropostale (RO) said to work with Barclays on private-equity stake - Bloomberg
Feb 25, 2014 03:48PM Could Herbalife (HLF) Draw the Attention of PE Firms for Potential Takeover?
Feb 25, 2014 01:39PM David Rubenstein Comments on Facebook's (FB) Purchase of WhatsApp
Feb 21, 2014 01:24PM G Asset Offers to Buy Barnes & Noble (BKS) for $22/sh
Feb 21, 2014 12:52PM UPDATE: Cerberus in Advanced Talks with Safeway (SWY)- Reuters
Feb 19, 2014 05:39PM Berry Plastics (BERY) to Offer 9M Shares For Holder Apollo Global
Feb 19, 2014 03:59PM UPDATE: Safeway Inc. (SWY) Had Talks with PE - CNBC's Faber
Feb 19, 2014 06:33AM Carlyle Gp (CG) Tops Q4 EPS by 27c
Feb 18, 2014 11:26AM Wunderlich Comments on Halcon Resources (HK) Rumors
Feb 18, 2014 09:50AM Tyson (TSL) Said to Place Bid for Prepared Foods Giant Michael Foods
Feb 18, 2014 09:23AM Ashland (ASH) to Sell Water Technologies Unit in $1.8B Deal
View Older Stories