Illuminati Investments • 17 Comments
Oct. 2, 2015, 4:56 AM
- China' Anbang Insurance Group is the favorite to win an auction to acquire Des Moines company Fidelity & Guaranty Life (NYSE:FGL), Reuters reports.
- Fidelity, whose market cap is $1.5B, is controlled by financial-interests holding company HRG (NYSE:HRG), which said in April that it was exploring a sale of its 80.6% stake in the subsidiary.
- If it buys Fidelity, Anbang would join other Chinese insurers that have entered the U.S. market.
Jun. 23, 2014, 11:47 AM
- Harbinger Group (HRG +1%), Phil Falcone's holding company, offers to buy retailer Central Garden & Pet (CENT +8.9%) in a ~$1.1B deal that includes the assumption of debt, or - as an alternative to acquiring the entire company - purchase CENT's pet business for $750M.
- CENT operates two segments: Its lawn-and-garden business offers grass seed, weed killer and flower pots, while its pet-supply unit sells dog bones, horse vitamins and aquariums.
- HRG says it has tried unsuccessfully to engage CENT in closed-door talks, and that it decided to make its offer public in light of the lack of response.
Nov. 15, 2012, 5:59 AMApollo Global Management (APO) and Guggenheim Partners are reportedly in the lead in a combined bid to acquire Aviva's (AV) U.S. life insurance and annuities unit, which is expected to be sold at a "substantial discount" to its book value of £2.4B, excluding debt. Also in the hunt is Philip Falcone's Harbinger Group (HRG). | Nov. 15, 2012, 5:59 AM
Nov. 5, 2012, 3:49 PM
Exco Resources' (XCO +2.4%) partnership deal with Harbinger (HRG +4%) gives XCO temporary relief under the company’s debt covenants, but sets an "upper bound” for XCO's valuation, Jefferies says. The fields with which XCO is parting tend to produce more oil and gas liquids and have longer productive lives than the rest of its wells, "supporting our view that shares are overvalued."| Nov. 5, 2012, 3:49 PM