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A Cure for the Common M&A Slowdown?
Venture capitalists and corporate M&A specialists don’t see the recent slowdown in large deals as all bad. Some of it is a function of a decent IPO market and strong pipeline of smaller acquisitions.
Reuters: Cerberus working on takeover bid for Supervalu
Cerberus Capital Management is working on a takeover bid for troubled supermarket operator Supervalu Inc. and has held talks with lenders to line up financing, according to three sources familiar with the matter. Debtwire earlier reported that the private equity firm was pitching a handful of banks to arrange $4 billion to $5 billion in debt financing to back a bid, sending Supervalu’s shares up 30 percent on Monday.
Reuters: Ancestry.com to be acquired by Permira-led group for $1.6 billion
U.S. genealogy website operator Ancestry.com agreed to be acquired by a group led by private equity firm Permira in a $1.6 billion deal, four months after it put itself up for sale following the cancellation of a TV show based on its research. The company, whose website helps users trace their family roots, will be taken private at $32 per share, a 10 percent premium to the stock’s Friday closing price of $29.18.
peHUB First Read
Catch up on the latest news after the weekend with this morning’s First Read which reveals who will survive the biotech VC downturn, the latest in Asian private equity news and who has raised the largest ever seed round in Y Combinator history.
peHUB Second Opinion 10.19
To end your week, Airbnb in talks with Peter Thiel for a $150 mln investment, Credit Suisse puts its Euro ETF business up for sale and The Onion endorses John Edwards for President.
Venture Alpha: The Stars Came Out to San Francisco
Thomson Reuters’ Venture Alpha 2012 event Thursday in San Francisco, we heard from investing and entrepreneurial legends including Benchmark GP Bill Gurley, DCM founder Dixon Doll and AOL founder Steve Case. Visiting the InterContinental Mark Hopkins Hotel on Nob Hill, VCs, entrepreneurs and dealmakers gathered for a day-long series of talks and meetings on the state and future of the venture capital industry.
Rauner, Seen as a Potential Contender for Illinois Governor, Retires from GTCR: UPDATED
It’s official. Bruce Rauner has retired from GTCR. Rauner, who joined the Chicago-based private equity firm in 1981, has left to devote more time to “civic and philanthropic interests,”a statement says.
peHUB First Read
How are we wrapping it up this week? Today’s peHUB First Read has wolverine frogs (yes, you read that right), GitHub down but not out and Yelp dealing out scarlet letters.
Venture Investing Falls 11.6% in the Third Quarter
Venture capitalists remained cautious during the summer months of a presidential election year, reining in third quarter investments in the face of a slow economy and soft IPO market. Investments by U.S. firms came to $6.49 billion in the quarter down 11.6% from a year ago.
Steve Case-s the Joint at Venture Alpha 2012
Steve Case speaks about crowdfunding, entrepreneurship and what should guide the missions of the next generation of startup leaders with Reuters digital editor Lawrence Aragon at Venture Alpha 2012.
Bill Gurley to LPs: You are Blowing It
Bill Gurley has a message for institutional investors: Stop blasting money at what have historically been top-tier venture funds. “You’re not in the stands. You’re in the field. And when you allocate [your capital] obsessively to firms in the top quartile, it will have an impact on how things play out.”
peHUB Second Opinion
In Second Opinion, Google mistakenly releases its earnings results early and blames R.R. Donnelley, Color’s engineering team is being acqhired, and Sallie Krawcheck wonders if we should really care about diversity.
