Diageo Plc offered to pay 114 billion rupees ($1.9 billion) to gain control of India’s United Spirits Ltd., to extend its reach in the world’s largest whiskey market. United surged to a record in Mumbai trading.
American Apparel Inc. , the operator of more than 280 clothing stores, plunged 41 percent in New York trading after posting a record loss and informing investors it may breach covenants on its second-lien loan.
American Safety Razor Co. , the fourth-largest maker of wet-shaving blades, filed a Chapter 11 petition yesterday where the company will be sold to first-lien lenders in exchange for debt unless second-lien creditors make arrangements to pay off the senior creditors within seven weeks.
Publisher Tribune Co. announced yesterday that mediation resulted in agreement with some creditors on a reorganization plan along the lines proposed earlier this month by creditors Oaktree Capital Management LP and Angelo Gordon & Co.
Bumble Bee Foods LLC, the maker of canned seafood products and the target of a leveraged buyout by Lion Capital LLP, plans to sell seven-year debt as high-yield corporate bond default rates may decline.
Workflow Management Inc. , a provider of promotional marketing services and printed business documents, filed a Chapter 11 petition late in the day on Sept. 29, possibly aiming to use cramdown on a holder of first- and second-lien debt who was blocking an out-of-court restructuring.
BC Partners Ltd., Lion Capital LLP and Bain Capital Partners LLC are among private-equity firms considering bids for Stokke AS, a Norwegian maker of children’s furniture, five people with knowledge of the situation said.