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JC Flowers
Latest Headlines
Latest Headlines
What to make of the bidding for Lehman Brothers?
Few would have guessed this: Bank of America, JC Flowers & Co. and China Investment Company (the Chinese sovereign wealth fund) are considering a possible joint bid for Lehman Brothers, reports the Financial Times . Bank of America seemed intent on exiting investment banking as its earnings
What does KKR see in Neuberger Berman?
According to CNBC , Kohlberg Kravis Roberts has emerged as the leading candidate to buy Neuberger Berman, the mutual fund company owned by Lehman Brothers . KKR rival the Blackstone Group apparently is apparently not interested at all, while JC Flowers, Apollo Management and the Carlyle
JP Morgan to buy Bear Stearns
Two dollars a share. Hard to believe. But that shows you the extent to which Bear Stearns really was on the brink. It was a frenetic weekend of activity. CNBC reported early that JC Flowers and JP Morgan Chase officials met with Bear Stearns officials on Saturday. They were assumed to
Sallie Mae deal to go to court?
The biggest deal casualty of the credit crisis has been Sallie Mae. It looks like now that the next step in the ugly confrontation is a trial in Delaware. The latest is that the once-commited buyers--J.C. Flowers, Bank of America and JP Morgan Chase, have rejected an overture by Sallie Mae to ren
SPOTLIGHT: JC Flowers and Northern
Rock Private equity firm JC Flowers may step up as a competitor to Richard Branson and enter the auction for Northern Rock. Not sure what the firm sees, but it's really a valuation game. Article
(JC Flowers, Northern Rock, Private Equity, Richard Branson)
Almost buyers want out of Sallie Mae break up fee
I guess this is a sign that the dance is over. There has been hope that J.C. Flowers and Bank of America and JP Morgan would find a way to compromise with Sallie Mae over the terms of the $25 billion buyout. Most people assumed that all the tough talk and posturing was just that. But after the wa
Sallie Mae saga continues
Sallie Mae announced a third-quarter loss of $344 million that seems to confirm what the banks and J.C. Flowers said about the effect of new legislation. But Sallie Mae chairman Albert Lord seems to be sticking to his guns. The company contends the new subsidy-reducing law will weed out competito
More on the lower offer for Sallie Mae
So the deal isn't dead yet. Despite a lot of posturing and cut-short meetings, a group led by J. C. Flowers has made a new offer for Sallie Mae--$50 a share in cash. The previous offer was $60 a share. According to the New York Times , they added a sweetener in the form of warrants, which will
Sallie Mae deal to be canceled?
Well, the Sallie Mae deal may end up being the first huge victim of the crisis. The New York Times says J. C. Flowers & Company and Friedman Fleischer & Lowe have informed Sallie Mae that they will not go forward with the deal, not for $25 billion anyway. The meeting to inform Sallie M
Private equity seeking more financial services deals
It was big news when Al de Molina, formerly a big wig at Bank of America , signed on with Cerberus Capital Management. He's not alone. TheStreet.com notes that the Carlyle Group recruited Ned Kelly, former CEO of Mercantile Bankshares, and David Zwiener, former president and COO of Hartford
