Tag Archives: APO

After Failed Sale, Arconic Plans Spinoff, But Not Quite Sure Of What It Will Spin Off

Last month, Arconic(ARNC) announced suddenly that it had failed to find a buyer willing to pay enough for the whole company and was ending the sale process.  Now, it is trying a different approach, announcing that it plans to spin off one of two businesses:  Engineered Products & Forgings or Global Rolled Products. It will also attempt to sell… Read More »

Arconic Not Ready For Showtime At The Apollo – Arconic Plunges As The Alcoa Spinoff Rejects Apollo Bid

With apologies to the Beatles: Yesterday, Arconic’s stock price began to fade away An expected buyout had been pushed away Elliott needs to find another way It was this close to a deal, but Arconic(ARNC) announced yesterday that it was no longer pursuing a sale of the company. Last week, the Wall Street Journal had reported that a… Read More »

Spinoff Odds and Ends: M&A Edition- Gannett, The Best Digital First Can Get?

Let’s kick off the week with some deal talk. Last week we touched on Apollo’s (APO) potential buyout of Arconic (ARNC) and if completed, it would just be another example of spinoff/parent company being taken out. Once the separation announcement is made or even the ‘strategic alternatives’ one, the market knows that a sale is possible. In that vein,… Read More »

Isn’t It Arconic, Don’t You Think? Like A Private Equity Bid After Your Spinoff

The WSJ is reporting that Arconic (ARNC) is nearing a deal with private equity firm Apollo Global Management (APO) to be taken private. While the exact deal value is unknown right now, estimates peg Arconic’s value at over $10b or between $21 and $22 per share. The price represents a modest premium to recent close, but the name… Read More »

Ceasars Revving Up The Growth Engine

Ceasars Entertainment (CZR) is certainly getting creative in order to deal with its massive debt pile. As this piece notes, the company has already refinanced some debt, pushed back maturities and even attempted to redefine its leverage ratios. Unfortunately, that hasn’t been enough ‘relief’, so the company’s announced a new plan to issue subscription rights to shareholders. The rights would… Read More »

It’s Official, No Spin: McGraw-Hill Sells Education Unit To Apollo

Well…that was relatively quick. Shortly after entering into exclusive talks with Apollo Global Management (APO), McGraw-Hill (MHP) announced that it has reached a deal with the private equity firm to sell off its education unit. The rumored price tag of $2.5b turned out to be correct, so kudos to those rumormongers. Additionally, as part of the transaction, McGraw-Hill… Read More »

McGraw-Hill Talking Education Unit Sale With Apollo

Could we be losing one of the most anticipated spins of the year? Might be, as McGraw-Hill (MHP) entered into exclusive negotiations with Apollo Global Management (APO) regarding the possible sale of its education unit. The company had been preparing itself for a spinoff, but was simultaneously running a bidding process for the unit. Final offers were submitted… Read More »