Seattle Business News (AP) August 13 2064
Investors led by Theogenics Equity Management and Shinpai Suru will buy UC-Gregors GMBH, the Danish chemical giant in a leveraged buyout. The TEM outbid Sader-Krupp offering 65.87 a share, three nuyen higher than SK’s last public offer.
“The general availability of money is driving all of these transactions’’ said Todd Urike, a former investment banker with Ares BanK of America Securities who now teaches finance at the University of Montreal’s business school. "Occasionally, there’s hubris or irrational exuberance, but with the low cost of capital right now, there’s lots of opportunities for big deals to be successful.’’
The investors are providing $3.5 billion in cash and the rest of the deal will be debt, according to people familiar with the matter. TEM will offer up $2.5 billion and SS is investing $1 billion, according to three people who asked not to be named.
The company, after almost going bankrupt in 2060 because of a failed overseas expansion, has rebounded and may earn $2.6 billion in 2064, up 51 percent from a year earlier, according to the average of six analyst estimates compiled by SBN.