KKR & Co., TPG Capital and Goldman Sachs Capital Partners, the firms that acquired Energy Future Holdings Corp. in the biggest-ever leveraged buyout, would be all but wiped out in a reorganization plan being discussed, said three people with direct knowledge of the negotiations.
Energy Future Holdings Corp. is in talks with creditors on an 11th-hour plan that would speed a bankruptcy reorganization of the electricity provider known as TXU Corp. when it was bought in a $48 billion leveraged buyout, said two people with direct knowledge of the discussions.
Aeropostale Inc., the teen apparel retailer under pressure from an activist investor to sell itself, is working with Barclays Plc to explore options such as the sale of a convertible note or preferred stock to a private- equity firm, people with knowledge of the matter said.
Barry Sternlicht, chairman and chief executive officer of Starwood Capital Group LLC, has spoken to banks as he prepares to sell shares of the property-investment firm to investors, a person familiar with the matter said.
Michael Simpson arrived at Alpine Meadows at Lake Tahoe earlier this month and found little more than dirt. Except for one ski run maintained by machines, the drought-parched California mountain was devoid of snow.
Jeff Zucker, the former NBC Universal chief who was named to lead Time Warner Inc.’s CNN yesterday, said the network needs to broaden its news coverage and keep viewers longer to compete with Fox News and MSNBC.
Avon Products Inc.’s naming of Johnson & Johnson’s Sherilyn McCoy as chief executive officer may delay the company’s turnaround efforts and decrease the chances of a takeover by Coty Inc., analysts said.
Coty Inc. Chairman Bart Becht said two weeks ago it was time for Avon Products Inc. shareholders to persuade the board to accept his company’s $10 billion bid. Several investors have discussed the offer with the board, and their message is clear: Get more money or forget about it.