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Issas and TDR Capital might drop out of Walgreens Boots' ￡7bn request. (FS)
Blackstone targets $5bn for Asia-Pacific private credit business. (FS)?
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PS Business Parks, a publicly-traded REIT, announced the expiration of the “go-shop” period set forth in the previously announced $7.6bn merger agreement with Blackstone. Under the merger agreement terms, Blackstone has agreed to acquire all the outstanding shares of the company’s common stock for $187.5 per share in an all-cash.
During the “go-shop” period the company actively solicited company acquisition proposals from 43 potentially interested third parties. To date, none of the third parties contacted by PSB or its financial advisors have made competing proposals following the execution of the merger agreement.
PS Business is advised by Eastdil Secured, JP Morgan and Wachtell Lipton Rosen & Katz. Financial advisors are advised by Cravath Swaine & Moore. Blackstone is advised by Citigroup, Simpson Thacher & Bartlett and Joele Frank.
Todd Boehly, Clearlake Capital, a private equity firm, Mark Walter and Hansjoerg Wyss completed the acquisition of Chelsea Football Club from Roman Abramovich for ￡4.25bn ($5.25bn).
Of the total investment, ￡2.5bn will be used to buy the shares in Chelsea and that money will be distributed to charity. The remaining ￡1.75bn is earmarked for investment in the club, including its stadium and women’s team.
Roman Abramovich was advised by The Raine Group,?Simmons & Simmons, Pillsbury Winthrop Shaw Pittman and Northridge Law. Clearlake Capital was advised by Paul Weiss Rifkind Wharton & Garrison and Sidley Austin. Todd Boehly was advised by Robey Warshaw,?Deutsche Bank, Goldman Sachs, Moelis & Co?and Latham & Watkins.
abrdn, a firm that provides a variety of investment services, completed the acquisition of Interactive Investor, a flat-fee investment platform, from JC Flowers, an American private equity investment firm, for $1.98bn.
“This is a unique opportunity and a transformative step in delivering our growth strategy. interactive investor is the UK’s number one subscription-based investing platform with a powerful reputation as a consumer champion. abrdn’s scale, resources and shared vision will enable interactive investor to grow confidently and expand its leadership position in the UK’s attractive savings and wealth market," Stephen Bird, abrdn CEO.
Interactive Investor was advised by?Fenchurch Advisory Partners, UBS and Taylor Wessing. abrdn was advised by?JP Morgan, Slaughter & May and Edelman.?JC Flowers was advised by?Macfarlanes.
Issas and TDR Capital might drop out of Walgreens Boots' ￡7bn request. (FS)
A consortium backed by the billionaire Issa brothers is considering dropping out of the bidding for Walgreens Boots Alliance's international arm due to disagreements over price,?Bloomberg?reported.
The Issas, who were bidding together with TDR Capital, balked at a request by Walgreens to increase their offer for the Boots drugstore chain and are now thinking about walking away. Shares of Walgreens pared earlier gains and closed up 1.4% in New York.?
Blackstone targets $5bn for Asia-Pacific private credit business. (FS)?
Blackstone is seeking a tenfold increase of assets in its Asia-Pacific private credit business to tap a market with a growing appetite for such financing,?Bloomberg reported.
The US alternative asset manager aims to expand its private credit assets to at least $5bn in the “near term” from the $500m committed as of the fourth quarter of last year. Blackstone Credit began investing actively in the region in 2021.
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