Macquarie Group, Ltd.(MCQEF)- Grey Market
  • Thu, Feb. 25, 9:14 AM
    • Cleco (NYSE:CNL) -2.7% premarket, on top of yesterday's 9.4% plunge, after Louisiana's Public Service Commission rejected a $4.9B proposed takeover by a Macquarie-led (OTC:MCQEF) investor group, saying the deal was not in the best interest of customers.
    • Among their objections, commissioners cited the purchase by Australian and Canadian investors who planned to sell the utility in 8-10 years, and the “double leverage” method of financing the transaction that left open the possibility that CNL customers could be on the hook for the debt.
    • The rejection comes as foreign buyers including Fortis (OTCPK:FRTSF) and Emera (OTCPK:EMRAF) are seeking approval to take over U.S. power companies, and the CNL ruling may hurt the chances of future acquisitions by non-U.S. companies.
    • Shares are downgraded to Sell from Neutral at Ladenburg Thalmann on the news.
    | Thu, Feb. 25, 9:14 AM | 10 Comments
  • Feb. 24, 2015, 6:49 AM
    • Looking to bolster its equipment leasing business, Huntington Bancshares (NASDAQ:HBAN) has agreed to acquire Macquarie Group's (OTC:MCQEF) equipment finance unit for around $380M, Reuters reports, saying a deal could be announced as early as this week.
    • Macquarie bought the unit, then named CIT Systems Leasing, from CIT Group in 2008. At the time of the acquisition, the business had $700M of assets.
    • HBAN +0.8% premarket
    | Feb. 24, 2015, 6:49 AM | 1 Comment
  • Sep. 25, 2014, 11:33 AM
    • Cleco's (CNL -9.1%) attempt to find a buyer is faltering, as the likeliest suitor for the Louisiana utility struggles to drum up investor backing for the deal, according to a Bloomberg report.
    • Australian bank Macquarie (OTC:MCQEF) reportedly has been seeking to acquire CNL through a special purpose fund managed by its infrastructure group, but the fund's co-investors have balked at the prospective low returns, a result of CNL's already high share price and low growth prospects.
    • Iberdrola (OTCPK:IBDRY) is said to have dropped out of the bidding; an earlier report indicated CNL had been close to a deal to sell itself to the Spanish utility.
    | Sep. 25, 2014, 11:33 AM
  • Sep. 8, 2014, 6:05 PM
    • Cleco (NYSE:CNL) is nearing a deal to sell itself and has narrowed down the list of prospective buyers to Spanish power company Iberdrola (OTCPK:IBDRY, OTCPK:IBDSF) and Australian investment bank Macquarie (OTC:MCQEF), FT reports.
    • Both bidders reportedly have discussed terms with CNL and a deal could be announced within weeks; a deal likely would fetch a premium to its market value, which now stands at $3.4B.
    • The Louisiana electricity supplier has been the subject of takeover rumors since June, when it said it was exploring strategic options after receiving attention from Canada's Borealis (OTCPK:BOREF), which is no longer interested; CenterPoint Energy (NYSE:CNP) also is no longer involved in discussions.
    | Sep. 8, 2014, 6:05 PM
  • Feb. 12, 2014, 4:50 AM
    • Goldman Sachs (GS) and Deutsche Bank (DB) are looking to exit an area of operations that not that many people know they're involved in: trading supplies of raw uranium, which is also known as yellow cake.
    • Between them, the companies have built up stockpiles of low-grade uranium larger than those held by Iran.
    • However, with scrutiny of banks' physical-commodities trading increasing and uranium demand low following the Fukushima disaster, the firms are looking to sell their uranium trading desks.
    • Australian bank Macquarie (MCQEF) is reportedly interested in Goldman's operations, which are called NUFCOR.
    | Feb. 12, 2014, 4:50 AM
  • Jan. 29, 2014, 5:11 AM
    • JPMorgan (JPM) could choose a winner this week in the auction of its commodities unit, which has attracted interest from Blackstone (BX), Macquarie (MCQEF) and Mercuria Energy, Bloomberg reports.
    • The business could fetch $2B, below the $3.3B JPMorgan was apparently looking for when it put the business on the block.
    • The firm is selling the operations amid increasing scrutiny of banks' commodity operations following allegations of problematic practices. (Previous)
    | Jan. 29, 2014, 5:11 AM | 1 Comment
  • Aug. 13, 2013, 3:49 AM
    • Lloyds (LYG) has reportedly received offers for its asset-finance and commercial-lending units that value the businesses at over A$1B ($912M).
    • Suitors that made preliminary bids include National Australia Bank, Westpac Banking (WBK), ANZ Banking, Commonwealth Bank of Australia (CBAUY.OB) and Macquarie Group (MCQEF.PK). Lloyds will probably cut the shortlist to three by the end of the month.
    • The sale will continue Lloyds' strategy of streamlining its operations and help it plug a capital shortfall identified by U.K. regulators.
    | Aug. 13, 2013, 3:49 AM
  • Aug. 27, 2012, 1:50 AM

    After two years of trying, Hertz (HTZ) is set to acquire Dollar Thrifty (DTG) in a deal worth $2.3B. The price of $87.50/share represents a premium of 8% on the latter's close of $81 on Friday. To help obtain the blessing of regulators, Hertz also agrees to sell its Advantage Rent-A-Car unit to Franchise Services of North America and Macquarie Capital for a reported $16M. (PR)

    | Aug. 27, 2012, 1:50 AM | 1 Comment