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Week in Review: Buffett, Trump, and Icahn

Mega-investors dominated the news this week. Buffett first made headlines as his insights, takeaways, and Cass-related quibs surfaced from the shareholder meeting. By the middle of the week, Trump created some buzz when he publicly endorsed — and participated in — the crowdfunding site FundAnything. Finally, Icahn rounded out the week when he announced his and Southeastern’s counter-offer for Dell.

In other news, BMC Software is going private for $6.9 billion, Microsoft is looking to buy Nook Media, and Apollo-backed Claire’s is going public to pay off some debt.

Donald Trump Gets Into Crowdfunding: The Donald is in the crowdfunding house. Earlier this week he announced his endorsement of FundAnything, a newly launched crowdfunding site. According to the site, Trump will be funding select projects and will be “Giving Away MONEY!” Not just regular money — MONEY.

Icahn and Southeastern Ready Rival Bid For Dell: Looks like Icahn was not satisfied with the deal he cut with Dell. It was announced late Thursday night that Icahn and Southeastern Asset Management would offer a counter-bid for Dell. Unlike Silver Lake’s offer, Icahn and Southeastern have offered shareholders $12 per share and would leave a portion of Dell public.

BMC Software to Go Private in $6.9B Deal: BMC Software has decided to go private. In a seeming echo of Dell’s decision earlier this year, BMC is hoping the take-private will allow for greater innovation and strategic development. Bain and Golden Gate Capital are leading the $6.9 billion buyout. Will we see other tech companies follow suit?

Microsoft Mulling Nook Media LLC Purchase for $1 Billion: Microsoft has offered $1 billion for the digital assets of Nook Media LLC. The acquisition is likely an attempt to secure control of the assets before Nook discontinues its Android-based tablet and hosts its digital content on third party devices. The relationship has been a long time in the making.

Apollo-backed Claire’s Files for IPO: After nearly going under during the recession, Claire’s announced this week that it would be going public to pay down some of its debt ($2.33 billion). If you are hoping this is a positive sign for IPOs, don’t get too excited — Quicksilver Resources cancelled its IPO this week.

Top 10 M&A Quotes: The folks at Firmex have compiled this slideshow of the top 10 M&A quotes. The quotes are from some of the most influential dealmakers of all time — including Andrew Carnegie, Warren Buffett, Mark Cuban, and others.

6 Things I Learned at Berkshire’s Annual Meeting: Amidst the Buffett-palooza that is the Berkshire Hathaway annual shareholders meeting, Forbes’ Stephen Gandel gleaned interesting insights from the Oracle of Omaha. Apparently Buffett is concerned about rising health care costs, corporate profits, and bitcoin, but is still bullish on America (and his newspapers).

How Warren Buffett Avoids Getting Trapped by Confirmation Bias: In addition to throwing a fantastic shareholder event, Buffett is also skilled at avoiding confirmation biases, or the tendency to “put more faith in information that agrees with what we already believe.” He overcomes the cognitive bias by frequently finding opinions that differ from his own.

Did you Hear?
Hertz Private-Equity Backers Selling Rest of Stake
TPG and Warburg Pincus Are Looking to Exit Neiman Marcus
Yahoo’s Mayer Has Met with Hulu Execs
Facebook in Talks to Buy Israel’s Waze for Up to $1 Billion
Silver Lake Closes $10.3 Billion Fund in the Midst of Dell Bid
Dow Closes Above 15,000 For First Time Ever
Many Banks Hope that Wealth Management Will Restore Fortunes
Warburg Pincus Closes Latest Fund at $11.2 Billion

Member Spotlight:

Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. Founded in 1993, the firm has completed over 35 acquisitions, representing over $1.5 billion of transaction value (as of 12/31/2012).

Glencoe Capital’s Michigan Opportunities Fund, the firm’s fourth fund, has $150 million in committed capital and makes lead-sponsored acquisitions and growth equity investments in companies that demonstrate a viable strategy for expanding their business, operations or presence in Michigan.

The firm’s third fund, Glencoe Capital Partners III, currently manages four portfolio companies. Fund investments consist of lead-sponsored acquisitions and growth equity investments in companies with values between $25 million and $125 million.

Click here to connect with Glencoe Capital or any of the other 10,000+ Axial Members.

Thanks to Gage Skidmore for the photo. 

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