Friday, 11 May 2012

Mergers & Acquisitions - Week Ending 05/11/12

Following a very lively previous week, this week saw only two deals. The first came on Monday, when two groups; hedge fund Perry Capital and private equity firm Yucaipa Companies, took over Barneys New York in exchange for quashing $540 million in debt (exchanging bonds for equity). The high-end retailer has been struggling with debt and dwindling demand following the credit crunch.
The only other deal of the week came the following day, when the Asahi Group acquired Calpis, a milk producer, for $1.5 billion. The buyer is looking to diversify to combat poor numbers in its core business, beer. The Japanese firm was down 1.4%.