Sun Capital eyes hostile offer for Kellwood: report
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Private equity fund Sun Capital Partners is considering a renewed bid to take over clothing brand company Kellwood Co.  with a hostile conditional tender offer, The New York Post reported on Thursday.
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Kohlberg Kravis Roberts & Co. is considering making a concession to the banks financing its $26 billion leveraged buyout of payment processor First Data Corp. , according to a source familiar with the situation.
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(InfoWorld) - IT distributor Agilysys Inc. continued its strategy of growing by acquisition, announcing plans to buy Innovativ Systems Design Inc., a major U.S. reseller of Sun Microsystems Inc.'s servers and storage products. It's the third purchase in six months for Agilysys, whose ultimate goal is to double in size to become a US$1 billion business within two years. Agilysys will pay US$100 million in cash for Innovativ. The deal, announced Friday, also includes a provision for the vendor to make an extra maximum payment of $90 million provided the Innovativ business achieves specific financial targets in the first two years after purchase. Agilysys hopes to close the acquisition on or around July 1. With headquarters in Edison, New Jersey, Innovativ is a systems integrator and reseller of servers, enterprise storage management and services, with a particular emphasis on the financial services and telecommunications industries. "The acquisition of Innovativ will establish a new and significant relationship between Sun and Agilysys," Arthur Rhein, Agilysys chairman, CEO and president, said in a release. He noted that the company already resells products from Sun's storage rivals EMC Corp., Hewlett-Packard Co. and IBM Corp. and its server competitors HP and IBM. Once the deal is complete, the firm will establish a new Agilysys Sun technology solutions business unit to be headed by Innovativ's current CEO Tony Mellina. In recent months, Agilysys has bought Visual One Systems, a developer and seller of Windows-based software for the hospitality industry, and Stack Computer, a technology integrator that focuses on high-availability storage from EMC and customers in the health-care, financial services and manufacturing industries. At the same time, Agilysys divested itself of its KeyLink systems distribution business assets to Arrow Electronics Inc. in March for $485 million in cash. The offloading of the KeyLink operation is in line with Agilysys' aim to concentrate exclusively on selling technology directly to corporate and public-sector customers. Factoring in the acquisitions of both Stack and Innovativ, Agilysys will expand annual revenue to over $800 million, on its way to becoming a $1 billion operation in 2009 and a $1.5 billion business come 2010. Â
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Canadian auto parts supplier Magna International Inc.  has been "seriously considering the potential purchase" of Chrysler Group, an analyst for KeyBanc Capital Markets said, citing unnamed sources.
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Alcan Inc. has begun negotiating  toward a merger agreement with Rio Tinto PLC to fend off a  hostile bid from U.S. rival Alcoa Inc., Canada&#39;s the Globe and  Mail newspaper reported on its Web site.
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December 30, 2004 - Mortgage giant Fannie Mae said Wednesday that it may sell as much as $4 billion of preferred stock to boost capital, Reuters reported.
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The chairman of New York Times Co. has  been seeking advice from the head of a private equity firm  about arranging a takeover bid for the newspaper publisher,  Business Week reported on its Web site on Thursday.
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Johannesburg - South African gold mining giant Gold Fields on Wednesday warned its shareholders that rival Harmony was &quot;financially stretched&quot; and was offering them overvalued shares in a hostile takeover bid.
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A U.S. senator has called for the U.S. government to cancel an ongoing purchasing contract with Sun Microsystems Inc., but the company says Senator Chuck Grassley&#39;s request is based on bad information.
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HSBC Holdings Plc has contacted Lone Star about buying Korea Exchange Bank (KEB) from the U.S. private equity fund, the UK's Daily Telegraph reported on Tuesday.
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&quot;Sun is in this big battle with Microsoft for enterprise commitments,&quot; Jonathan Eunice, an analyst with the research firm Illuminata, told the E-Commerce Times.
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Nasdaq Stock Market Inc NDAQ.O is   considering making a hostile bid for the London Stock Exchange   LSE.L, in which it has amassed a stake of over 25 percent,   weekly UK newspaper The Observer said on Sunday, without citing   any sources.
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Hedge fund SAC Capital is planning to  fight the proposed buyout of mining giant Phelps Dodge Corp.   by Freeport McMoRan Copper & Gold Inc.  and seek  a higher price, the New York Post reported on its Web site on  Monday.
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Pharmacy benefits manager Express  Scripts Inc.  is planning to make a $26 billion hostile  bid on Monday for rival Caremark RX , the New York Times  reported on its Web site, citing people briefed on the  company's plan.
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Pilgrim's Pride Corp. PPC.N said on   Thursday it would launch a hostile $1 billion takeover offer   for poultry producer Gold Kist Inc. GKIS.O after failing to   agree on a deal with Gold Kist's management.
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SANTA ANA, Calif., Dec. 13 -- Representatives of Chandler family members on Tribune's board of directors approached one private-equity firm about a possible partnership to buy the embattled media giant several months ago, even before the family began pushing for the sale of the company that is now...
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Oracle&#39;s hostile takeover bid for PeopleSoft has fueled negative perceptions of the software company among corporate computer buyers, which could sap demand for its products, according to a report published on Wednesday.