Our thoughts go out to those impacted by the Boston tragedy — hope all of our Boston-based readers are safe.
In the M&A world, a few surprising mega-deals cropped up this week. Early on Monday, Dish announced its $25.5 billion bid for Sprint. Just a few hours later, Thermo Fisher stated it was looking to acquire Life Technologies for $13 billion. Yesterday’s mega-deal, Dell, returned to the spotlight as Blackstone pulled out of the process and Icahn reached an agreement with the special committee.
Dish Offers to Buy Sprint, Joining Phone to TV Service: Dish Network has moved to acquire Sprint Nextel, the nation’s third-largest wireless carrier, for a surprising $25.5 billion. While there were some rumors that Softbank would counter with a higher offer, it does not seem likely.
Thermo Fisher Nears $13 Billion Life Tech Deal: In an effort to enter the genetic sequencing space, Thermo Fisher Scientific has moved to acquire Life Technologies Corp for close to $13 billion. People familiar with the deal said that Life chose Thermo Fisher instead of Sigma Aldrich and a Blackstone, Carlyle, KKR, and Temasek consortium.
Blackstone Pulls Out of Dell Bidding: Blackstone has officially withdrawn from the Dell deal. In a letter to the special committee, the firm announced it “will likely not pursue this opportunity.” Maybe they are now eyeing a new failing icon: JCPenney.
Dell Reaches a Deal With Icahn: While Icahn hasn’t pulled out of the Dell deal, his involvement has been limited. Under new terms of the deal, Icahn can acquire only 10 percent of the company’s shares and can engage in only limited agreements with other shareholders.
Public Offering Values SeaWorld at $2.5 Billion: SeaWorld officially debuted as a public company this morning. The shares began trading at $27, valuing the company at $2.5 billion. If the shares continue to rise, Blackstone will make quite a pretty penny off these whales and penguins.
There Are Only Two Types of Venture-Backed Companies According to Michael Fertik, CEO and Founder of Reputation.com, there are only two types of venture-backed companies: Brave New World ones and Faster, Better, Cheaper ones. A review of a company’s vision, culture, resources can determine which, if either, it is.
Until the 1990s, Companies Didn’t Have “Business Models”: Can you remember the first time you used the phrase “business model”? Chances are it was sometime around the mid to late 1990s. Quartz recently discovered that the phrase has only gained popular traction in the past twenty years or so.
Top 10 Private Equity Loopholes: Obama’s recent focus on carried interest caused Victor Fleischer to review the 10 biggest tax loopholes that private equiteers enjoy. However, he also offers recommendations for closing the loopholes. Carried interest may soon be just one of the tax-related concerns.
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Evolution Capital Partners is a small business private equity fund investing growth equity nationwide in Second Stage Companies generating annual free cash flow of $500,000 to $2,000,000. Evolution is a point in time investor that is focused on a particular point in the growth cycle of entrepreneurs where they have been profitable, they are established and have a track record of success, but lack the resources, capital, infrastructure and management depth to scale their business.