|
|
 |
|
Viewing report
|
|
|
|
Cross-Market Commentary: The Number Of Going Private Deals Slips In 2011 Dec 11
Standard & Poors, Dec 2011
Abstract
Earlier this month, private equity firm Sycamore Partners made a bid to acquire the remaining 90.1% stake in apparel retailer The Talbots Inc. for approximately $190 million in cash (Sycamore Partners already holds 9.9%). After Sycamore Partners offered $3 per share for the outstanding shares, Talbots informed Sycamore Partners that the proposal was inadequate and undervalues the company, whereupon Sycamore canceled the proposal on Dec. 20, 2011. This recent development perhaps reflects the overall downturn in transactions classified as going private. Specifically, going private transactions are currently at their lowest level since 2002. Just 42 U.S. transactions were classified as going private in 2011, a sharp drop from the 2010 total of 73 and a reversal of last year's turnaround,...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
|
|
|
|
