Controlled by the Blackstone Group (BX), Pinnacle Foods is a packaged foods company whose brands can be found in about 80% of the households in the U.S. The portfolio includes Duncan Hines baking mixes and frostings, Vlasic pickles and Swanson frozen dinners.

Well, Pinnacle will get even bigger; that is, the company -- along with the financing from Blackstone -- will purchase Birds Eye Foods for roughly $1.3 billion. There will also be debt financing from Barclays Capital (BCS), Credit Suisse (CS), BofA Merrill Lynch (BAC), HSBC and Macquarie Capital.

Continue reading Blackstone chomps on $1.3B deal for Birds Eye

Blackstone chomps on $1.3B deal for Birds Eye originally appeared on BloggingStocks on Thu, 19 Nov 2009 12:40:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Abercrombie & Fitch Co. (ANF) lower Q3 results still topped expectations and sent shares higher.
• Applied Materials Inc. (AMAT) posted much better-than-expected Q4 earnings, the first profit in a year.
• AstraZeneca (AZN) received an analyst's downgrade due to concerns over its earnings prospects.
• Blackstone Group (BX) received an analyst's upgrade following the company's Q3 results.
• Blockbuster Inc. (BBI) widened its net loss in Q3 and revenue and same-stores sales declined.
• Clean Energy Fuels Corp. (CLNE) shares declined after its Q3 numbers fell short of expectations.
• Consolidated Water Co. Inc. (CWCO) earnings prospects for 2010 earned it an analyst upgrade.

Continue reading Earnings highlights: Abercrombie, Blockbuster, Disney, Macy's, Walmart ...

Earnings highlights: Abercrombie, Blockbuster, Disney, Macy's, Walmart ... originally appeared on BloggingStocks on Sat, 14 Nov 2009 14:10:00 EST. Please see our terms for use of feeds.

Continue reading IPOs getting a buzz kill?

IPOs getting a buzz kill? originally appeared on BloggingStocks on Mon, 02 Nov 2009 16:30:00 EST. Please see our terms for use of feeds.

What has Blackstone (NYSE: BX) been doing with all those theme parks it's been buying? Well, the answer is becoming a bit clearer now. The private equity firm is getting ready to take theme park operator Merlin Entertainments public early next year.

Several investment banks have already been called to advise on the transaction, including Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Deutsche Bank (NYSE: DB), UBS (NYSE: UBS), and Nomura (NYSE: NMR). If all goes as planned, the deal could be good for $3.33 billion.

Continue reading Will Blackstone make magic with Merlin?

Will Blackstone make magic with Merlin? originally appeared on BloggingStocks on Sun, 25 Oct 2009 14:40:00 EST. Please see our terms for use of feeds.

In the U.S., the prevailing sentiment is that the consumer is tapped out. And, even for those that have money, there will continue to be a good deal of frugality.

So, it would seem that theme parks would suffer, right?

Perhaps not. This is the thinking of Stephen Schwarzman, who is the chief of the Blackstone Group (NYSE: BX). Interestingly enough, he's doubling down on theme park investments, according to Reuters.com.

Continue reading Blackstone: Piles to be made from theme parks?

Blackstone: Piles to be made from theme parks? originally appeared on BloggingStocks on Mon, 19 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

Up until the credit crisis, private equity firms had it made. They had plenty of leverage to play with and could load up their acquisition targets with it. So, they could realize a fantastic return on equity, mitigate their own risks, and show that they were the studs of the Street.

Then, all that went away. Credit markets dried up, and private equity companies lost their acquisition fuel. The numbers aren't as big as they used to be, but it looks like the private equity market is back in action.

Continue reading Private equity biz back in action

Private equity biz back in action originally appeared on BloggingStocks on Thu, 15 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.

The private equity industry has been through the worst, but now it seems the situation is taking a turn for the better. Stephen Schwarzman, CEO of Blackstone (NYSE: BX) expects deal flow and IPOs to bounce, saying the economy is showing "more than green shoots" of recovery.

Schwarzman, speaking at the Super Return Middle East conference in Dubai, doesn't expect another slip into recession, but the full recovery will take time, for all the same reasons you've been reading on BloggingStocks for a while: tighter lending standards; uncooperative consumers who won't spend beyond their means and so on.

Continue reading Blackstone ready for recovery with exit strategy of sales and IPOs

Blackstone ready for recovery with exit strategy of sales and IPOs originally appeared on BloggingStocks on Wed, 14 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

The Blackstone Group (NYSE: BX - option chain) shares are rising today on reports that the buy-out firm is planning to unload a number of its portfolio companies, including TeamHealth, which provides outsourcing services for the health-care industry, and Merlin Entertainments Group, of Europe, which owns Legoland and Sea Life. Up to eight IPOs and five sales to private equity companies are in the works. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on BX.

Blackstone opened Monday at $15.50. In morning trading the stock hit a low of $15.50 and a high of $16.18. As of 11:15, BX was trading at $15.79 up 0.94 (6.3%). The chart for BX looks bullish.

Continue reading Blackstone (BX) planning to shed up to 13 companies

Blackstone (BX) planning to shed up to 13 companies originally appeared on BloggingStocks on Mon, 12 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

In the U.S., the outsourced healthcare professional staffing market is about $50 billion. And, it is likely to grow because of the complexity of regulations and cost pressures.

One of the largest outsources in the market is Team Health Holdings, which generated $1.33 billion in revenues last year. In fact, this week the company filed to go public.

Continue reading Team Health: A Blackstone deal readies for an IPO

Team Health: A Blackstone deal readies for an IPO originally appeared on BloggingStocks on Tue, 06 Oct 2009 14:30:00 EST. Please see our terms for use of feeds.

The past two years have been terrible for private equity firms. But, now we're seeing signs of life.

If fact, this week there was a liquidity event. That is, the Blackstone Group (NYSE: BX) and Lion Capital have received a binding offer to sell Orangina Schweppes to Suntory (a major Japanese drinks company). It appears that the price tag comes to $3.82 billion.

Continue reading Blackstone reaps $3.8 billion on the Orangina deal

Blackstone reaps $3.8 billion on the Orangina deal originally appeared on BloggingStocks on Wed, 23 Sep 2009 11:20:00 EST. Please see our terms for use of feeds.

According to the Wall Street Journal, China's government recently has pushed development of its local private-equity industry so that Chinese investors can get in on the country's private-equity deals. To that end, Chinese officials have tried to lure foreign money managers to raise funds from local investors.

Hong Kong-based First Eastern Investment Group, which plans to raise six billion yuan through a new wholly owned Shanghai subsidiary, and Asian brokerage CLSA Ltd., which plans to raise a 10 billion yuan fund through a joint-venture with state holding company Shanghai Guosheng Co., are just the latest to establish local-currency private-equity funds in Shanghai.

Continue reading Private equity heats up in China

Private equity heats up in China originally appeared on BloggingStocks on Mon, 17 Aug 2009 18:30:00 EST. Please see our terms for use of feeds.

Continue reading Blackstone's Schwarzman snags $702.4 million

Blackstone's Schwarzman snags $702.4 million originally appeared on BloggingStocks on Fri, 14 Aug 2009 08:15:00 EST. Please see our terms for use of feeds.

As seen on the Blackstone Group's (NYSE: BX) latest earnings conference call, the firm is trying to find ways to diversify its platform beyond buyouts (this is no fluke as other firms, like KKR, are doing the same thing). One of the areas of interest is actually hedge funds.

To this end, Blackstone made a big hire this week, bringing Byron Wien on board as the vice chairman of Blackstone Advisory Services. Actually, he is leaving Pequot Capital Management Inc., which is a hedge fund that is in the process of closing down (assets were as high as $15 billion). The firm is now faces an SEC investigation regarding trading in Microsoft's (NASDAQ: MSFT) stock. This is according to a report in the Wall Street Journal [a paid publication].

Continue reading Byron Wien: Legendary investor moves over to Blackstone

Byron Wien: Legendary investor moves over to Blackstone originally appeared on BloggingStocks on Thu, 13 Aug 2009 14:00:00 EST. Please see our terms for use of feeds.

Here are some highlights from last week's earnings coverage from BloggingStocks:

• Activision Blizzard Inc. (NASDAQ: ATVI) reported better-than-expected Q2 results, sending shares higher.
• Blackstone Group (NYSE: BX) said it swung to a Q2 profit despite a dearth of leveraged buyouts.
• CBS Corp. (NYSE: CBS) Q2 earnings declined but still topped estimates, sending shares higher.
• Coinstar Inc. (NASDAQ: CSTR) reported stellar Q2 results driven by its the popularity of RedBox.
• Clorox Co. (NYSE: CLX) posted solid Q4 earnings but said revenues were flat due to currency effects.
• Duke Energy Corp. (NYSE: DUK) lower Q2 earnings beat expectations by a penny but revenue fell short.

Continue reading Earnings highlights: Blackstone, CBS, Humana, Playboy, Sirius, Whole Foods ...

Earnings highlights: Blackstone, CBS, Humana, Playboy, Sirius, Whole Foods ... originally appeared on BloggingStocks on Sat, 08 Aug 2009 15:40:00 EST. Please see our terms for use of feeds.

Despite the credit crunch and recession, private equity powerhouse, the Blackstone Group (NYSE: BX), was still able to post a profit of $180.8 million in Q2. How was this possible? It certainly helped that the equities markets surged. The upshot was that the Blackstone company portfolio had an average mark-up of 3%.

Yet, the fact remains that the buyout business continues to lag. While valuations are attractive, the problem is that banks continue to be stringy with funding. Unfortunately, without leverage, it's pretty tough to generate strong returns.

Continue reading Blackstone: Trying to make a buck from corporate misery

Blackstone: Trying to make a buck from corporate misery originally appeared on BloggingStocks on Fri, 07 Aug 2009 10:30:00 EST. Please see our terms for use of feeds.

Shares of private equity firm Blackstone Group (NYSE: BX) surged 21% on Monday. The question is why?

Some have attributed the surge to investors buying on speculation of an upside surprise from Thursday's earnings report. Analysts surveyed by Thomson Reuters expect the New York-based company to report fiscal third quarter earnings of $0.09 per share, compared to a loss of $0.07 per share in the second quarter, but also a profit of $0.15 per share in the year-ago quarter. Revenue for the third quarter is expected to be 9.1% lower than a year ago to $341.9 million.

Continue reading Blackstone surges ahead of Q3 earnings report

Blackstone surges ahead of Q3 earnings report originally appeared on BloggingStocks on Tue, 04 Aug 2009 17:20:00 EST. Please see our terms for use of feeds.

The market has made a nice rebound over the past few months, and one question is on every investor's lips: Can it continue?

To get an answer, it might not be a bad idea to look at what the private equity firms are planning. Remember when The Blackstone Group (NYSE: BX) decided to cash out with an IPO and it marked the exact top of the private equity boom? Take a look at how that stock has performed since then.

Well, now The Financial Times reports that "Kohlberg Kravis Roberts, the world's biggest buy-out group, is preparing up to six companies for initial public offerings worth billions of dollars, including Toys 'R Us, as it sells some of its most valuable groups back to the stock market."

Continue reading KKR prepares a torrent of IPOs

KKR prepares a torrent of IPOs originally appeared on BloggingStocks on Mon, 03 Aug 2009 08:40:00 EST. Please see our terms for use of feeds.

Continue reading PennyMac launches lifeless IPO

PennyMac launches lifeless IPO originally appeared on BloggingStocks on Fri, 31 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

KKR & Co. is a step closer to being publicly traded, now that the board of its Amsterdam-traded buyout fun has given the green light. If a majority of the unitholders in KKR Private Equity Investors LP (OTC: KPE), the listed fund, consent, the transaction could be finished by October 1, 2009.

This would result in KKR's finally reaching an exchange. The private equity fund tried to go public via initial public offering (IPO) in 2007, after the Blackstone Group (NYSE: BX) raised $4.75 billion that way, but market conditions scuttled the attempt.

Continue reading KKR self-buyout a step closer

KKR self-buyout a step closer originally appeared on BloggingStocks on Mon, 20 Jul 2009 08:20:00 EST. Please see our terms for use of feeds.

When The Blackstone Group (NYSE: BX) went public, many observers -- myself included -- were concerned by the total lack of corporate governance checks and balances.

But at the time, the private equity industry was so hot that Blackstone could do no wrong, and no one cared enough to complain. But now that KKR is mulling a plan to list on the New York Stock Exchange, things could be different. The wheels have come off the industry, at least for now, and the arrogant attitude of "We'll tell you what we feel like telling you and you'll like it" may not play so well.

Continue reading Will private equity finally find good governance with the KKR IPO?

Will private equity finally find good governance with the KKR IPO? originally appeared on BloggingStocks on Thu, 02 Jul 2009 10:50:00 EST. Please see our terms for use of feeds.