Word: kohlberg
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Already, unsolicited bids--the preferred '80s raider weapon--are on the rise. The value of these bids more than doubled last year, to $5 billion, reports Thomson Financial. Meanwhile, Kohlberg Kravis Roberts, which became a household name with its $25 billion takeover of RJR Nabisco in 1989, is in the process of raising $6 billion, its largest pool ever for deals...
...growing number of European firms--mostly from old-economy sectors--are delisting from stock exchanges. Freed from having to please investors every quarter, many smaller companies find it easier to grow--or reinvent themselves--when they are financed by private-equity funds and banks instead. The buyout firm Kohlberg Kravis Robert recently created a $3 billion European fund and started scouting the Old World for new privatization deals. "There are lots of opportunities here," explains Ned Gilhuly, managing director of KKR's European operations in London. "We believe there will be more, and sizable, deals in Europe." So does London...
...companies have already closed their vaults. General Motors, Monsanto, AlliedSignal and Ameritech swore off soft money in 1997 and have largely stuck to their decision. Wall Street buyout pioneer Jerome Kohlberg has formed an advocacy group that backs candidates who favor campaign-finance reform, and has assembled a cadre of retired corporate chieftains, plus mega-investor Warren Buffett, in support of the effort. "This is the first time a significant number of people in the business community have said enough is enough," says Charles Kolb, president of the Committee for Economic Development...
...real beneficiaries of this welfare? One is the Wall Street buyout firm of Kohlberg Kravis Roberts & Co., one of whose affiliates "manages and controls the activities of the company," according to filings with the U.S. Securities and Exchange Commission...
...profitable position as the No. 2 player by assembling a group of regional snack-food companies. Not only did Frito-Lay beat Borden until the cows went home, but the damage was so severe that Borden, once a $5.6 billion independent company, nearly imploded, and was eventually bought by Kohlberg Kravis Roberts. Borden, having sold all its snack units except for its Wise Foods and Moore's Quality lines, now has a market share of 5%, down from a high...