Bank of America announced that it and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties, for a purchase price of…
Lehman Brothers Holdings Inc. announced today that it has exercised its right of first offer to purchase the remaining stake in Archstone held by affiliates of Bank of America and Barclays Capital (“the Banks”), which will give Lehman full ownership of Archstone. This transaction follows Lehman’s purchase in January 2012 of a 26.5% interest previously…
Thomas Lee Partners and Goldman, Sachs are making a $700 million+ investment into MoneyGram International. The Company also entered into an agreement with affiliates of Goldman Sachs to provide debt financing of up to $500 million, with additional $200 million to follow. MoneyGRam also announced a multi-year extension through January 2013 of its financial services agreement with Wal-Mart. MoneyGram provides the money transfer, urgent bill payment and money order services for customers in more than 3,500 Wal-Mart stores, including Wal-Mart MoneyCenters. MoneyGram has more than 143,000 agents worldwide. In December, Euronet Worldwide propositioned MoneyGram with an offer of a tax-free, all-stock transaction acquisition valued at $1.65 billion. (CF Library 2/13/07)
Ingenico’s offer to buy Hypercom is being described as a “hostile overture.” Ingenico recently filed a lawsuit against Francisco Partners, which is financing Hypercom’s acquisition of Thales’ e-Transactions business. Hypercom also says that Ingenico’s newest ploy is to make private negotiations public. Hypercom says the potential harm to its shareholders of failing to pursue the acquisition of the e-Transactions business was significant. This week, Thales informed Hypercom it may abort the transaction, retain Hypercom’s $10 million deposit and seek other remedies if it did not sign the “Stock Purchase Agreement.”. Hypercom’s share price rose sharply yesterday on the merger proposal. Ingenico yesterday offered to buy Hypercom for $332 million, a 52% premium over last week’s share price, as well as an approximate 83% premium over Hypercom’s current enterprise value. (CF Library 2/11/08)
Hypercom says Ingenico’s offer to buy the terminal maker appears to be a “hostile overture” due to Ingenico’s lawsuit filed against Francisco Partners, which is financing Hypercom’s acquisition of Thales’ e-Transactions business, and in Ingenico’s effort to make private negotiations public. Hypercom says the potential harm to its shareholders of failing to pursue the acquisition of the e-Transactions business was significant. Yesterday, Thales informed Hypercom it may abort the transaction, retain Hypercom’s $10 million deposit and seek other remedies if it did not sign the “Stock Purchase Agreement” by tomorrow. Hypercom’s share price rose sharply yesterday on the merger proposal. Ingenico yesterday offered to buy Hypercom for $332 million, a 52% premium over last week’s share price, as well as an approximate 83% premium over Hypercom’s current enterprise value. (CF Library 2/11/08)
Hedge fund Pershing Square has made an about face over its objection to Ceridian’s proposed sale to Fidelity National Financial and private equity firm Thomas H. Lee. Pershing Square says it now it intends to fully support the $5.2 billion buyout. The hedge fund said that significant recent developments in the credit markets raised its confidence that the deal is the highest all-cash price reasonably attainable for the company. In a proxy filing filed this week with the SEC, Pershing Square stated that, if elected, its nominees plan to fully support the company’s efforts to complete the transaction as soon as possible. Pershing Square also disclosed that its nominees plan to make no changes in management pending the completion of the deal. Pershing Square owns about 15% of Ceridian. (CF Library 7/27/07)
NCR says that full-year revenue growth guidance for its ATM division is being lowered to 0% to 2%, due to less-than-expected growth from demand drivers, the effect of price erosion and the company’s continued focus on price discipline. NCR expects to report third-quarter revenue of approximately $1.49 billion to $1.50 billion, an increase of 3 percent from the third quarter of 2004. In addition, the company’s cost reduction actions are progressing ahead of schedule. Of the $350 million of cost reduction the company expected to achieve by the end of 2006, more than $300 million is now expected to be achieved by the end of 2005.
NCR reported that second quarter revenue for its ATM business was $323 million, down 2% from the year-ago period even though the quarter benefited from currency fluctuations. NCR says ATM revenue was also lower than expected due to the adverse timing of transactions in Eastern Europe and China. The Retail Store Automation unit generated $211 million of revenue, about the same as the first quarter of 2004. Overall, NCR reported second quarter net income of $127 million. During the second quarter, Darden Restaurants (Olive Garden, Red Lobster and Smokey Bones) announced it plans to upgrade to NCR’s “RealPOS 70” POS terminals for its 1,300 locations nationwide. For the third quarter, NCR expects total revenue to grow 2% to 3% from the prior-year period. For complete details on NCR’s current and past performance, visit CardData ([www.carddata.com]) (CF Library 6/22/05)
NCR says it anticipates its second-quarter earnings to exceed its prior guidance by $0.04 per share and has raised its earnings expectation for 2005 to be in the $1.68 to $1.73 range. NCR expects to report second-quarter revenue of approximately $1.47 billion, an increase of 1 percent from the second quarter of 2004. Stronger-than-anticipated profitability in the company’s Teradata Data Warehousing and Customer Services businesses more than offset lower-than-expected revenue and profitability in Financial Self Service. NCR Corporation provides ATMs, retail systems, data warehouses and IT services globally.
NCR reported that its Financial Self Service segment, which primarily includes ATMs, produced record third-quarter revenue of $338 million, up 25% from 3Q/03. NCR says it is seeing continued growth in upgrades, replacements, and the purchase of new ATMs. Also, the recently enacted Check 21 legislation is driving more banks in the USA to invest in deposit-capable ATMs. For the Retail Store Automation segment, third quarter revenues was up 3% to $217 million. NCR says retailers continue to be disciplined in their capital spending but deployment of self-checkout systems is expanding. NCR projects fourth quarter revenue growth of 3% to 5% for Financial Self Service and 6% to 8% for Retail Store Automation. For complete details on NCR’s third quarter performance, visit CardData ([www.carddata.com]).
NCR expects to report strong third-quarter results of approximately $1.44 billion to $1.45 billion, an increase of almost 7% from 3Q/03. NCR’s results were responsible for a strong performance in the company’s Teradata Data Warehousing and Financial Self Service businesses. NCR is increasing its expectations of earnings-per-share for full year 2004 from $1.40 – $1.45. NCR will provide more detailed information about its third-quarter results during a conference call on October 28. NCR Corporation is a global technology leader in helping businesses establish stronger relationships with their customers through their ATMs, retail systems, Teradata(R) data warehouses. and IT services.
OH-based NCR reported that its ATM division posted second-quarter revenue of $330 million, up 27% from the year-ago period. The Company says it is seeing continued growth in upgrades, replacements and the purchase of new ATMs as banks focus more on branch banking, transaction migration, and compliance with regulatory changes. NCR says these new deposit-capable ATMs should allow banks to reduce cash-handling, check-processing and transportation costs. NCR’s Retail Store Automation unit generated $212 million of revenue, up 4% from the second quarter of 2003. NCR says retailers continue to be disciplined in their capital spending, but they have begun to replace and upgrade their point-of-sale terminals and expand their deployment of self-checkout systems. NCR’s overall revenues for the second quarter grew 6% to $1.45 billion. For complete details on NCR’s 2Q/04 performance visit CardData ([www.carddata.com]).