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Onex Corporation (ONEXF)

- OTCPK - Current
  • Nov. 24, 2014, 9:44 AM
    • Onex (OTCPK:ONEXF +1.1%) agrees to pay up to €3.75B ($4.64B) for Swiss carton packaging maker SIG Combibloc Group from New Zealand-based Reynolds Group.
    • SIG is one of the world’s largest manufacturers of carton packaging for the food and beverage industry.
    • Reynolds said earlier that SIG’s Q3 revenue fell 3% to $549M on lower sales in Europe, the Middle East and Asia, where a raw milk shortage slowed demand for cartons.
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  • Nov. 10, 2014, 3:35 AM
    • Golden Gate Capital has so far outbid other buyout firms, including Onex (OTCPK:ONEXF) and Metalmark Capital, in the battle to acquire Angus Chemical, a specialty chemicals subsidiary of Dow Chemical (NYSE:DOW).
    • Golden Gate has put in a bid for more than $1B, Reuters reports.
    • Dow has been facing investor pressure to sell off its less-lucrative businesses and return more money to shareholders. Most recently, activist investor Daniel Loeb urged the company to separate its commoditized raw materials businesses from its specialty chemicals operations.
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  • Aug. 8, 2014, 7:26 AM
    • Spirit AeroSystems (NYSE:SPR) has priced a previously announced public secondary offering of 8,557,155 shares of the Company's class A common stock by stockholders at $35.90 per share. The offering is expected to close on August 13, 2014.
    • The shares are being offered by affiliates of Onex (OTCPK:ONEXF) and current and former members of management of the company.
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  • Jul. 16, 2014, 12:04 PM
    • York is a provider of risk management, claims management, and managed care services. The equity investment in the deal is about $560M, and it will be made by Onex Partners III, and certain limited partners, including the management teams of Onex (OTCPK:ONEXF -1%) and York.
    • "We will continue to be active" in insurance and insurance services, says Robert Le Blanc, a senior MD at Onex.
    • Source: Press Release
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  • Apr. 4, 2014, 12:02 PM
    • Blackstone (BX +0.3%) seals the deal to buy industrial-products maker Gates Global from Onex (ONEXF +0.9%) and the Canada Pension Plan Investment Board for $5.4B, reports Bloomberg, which says the official announcement could come later today.
    • It would be Blackstone's biggest private-equity deal since taking over Hilton Worldwide in 2007.
    • Blackstone has seemingly been more seller than buyer of late as soaring stock markets make public valuations pricier than private ones. At $5.4B, Blackstone would be paying 9.6x Gates' adjusted EBITDA. Gates had filed to go public last December.
  • Mar. 25, 2014, 6:08 PM
    • Blackstone (BX) reportedly is close to a deal to buy Gates Global for more than $5.5B, in the final stages of negotiations with Gates' P-E owners Onex (ONEXF) and the Canada Pension Plan Investment Board with an agreement possible by early next week.
    • BX apparently is preparing to do the deal on its own after TPG Capital, which it had teamed up with to submit a joint bid two weeks ago, backed out.
    • The deal is expected to value the auto parts and building products maker at $5.5B-$6B, including debt.
  • Aug. 26, 2013, 1:58 AM
    • The Pritzker Organization (TPO) has reportedly agreed to acquire TMS International (TMS), a provider of procurement and other services to steel mills, for $1B, including around $300M in debt.
    • The offer of $17.50 a share represents a 12.4% premium to the stock's closing price of $15.57 on Friday.
    • TPO, which is the investment firm of billionaire Tom Pritzker, is acquiring TMS after winning an auction. The latter's main owner is Canadian private-equity firm Onex (ONEXF.PK) with a 60% stake.
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  • Apr. 26, 2013, 4:48 AM
    Onex (ONEXF.PK) might reportedly have to settle for a price of $2.5B for its Carestream Health unit, or not sell it at all, after just Bain and Thomas H. Lee Partners were left in the auction for the medical imaging company. Onex's hopes of getting up to $3.5B were dampened after the likes of Carlyle (CG) and KKR (KKR) pulled out of talks due to Carestream Health's uncertain outlook.
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  • Feb. 20, 2013, 4:17 AM
    KKR (KKR) is reportedly the only private-equity firm left in the auction for Gardner Denver, which has a market cap of $3.39B, with final bids due tomorrow. TPG, Onex (ONEXF.PK) and CCMP Capital Advisors have cast an eye upon the maker of industrial pumps, but they're not as interested as KKR, although they could re-enter the fray if the company's valuation changes.
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  • Nov. 26, 2012, 8:41 AM
    Canadian P-E firm Onex agrees to acquire U.S. insurance broker USI from GS Capital Partners, Goldman Sachs' (GS) P-E fund, for $2.3B. (PR)
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  • Oct. 18, 2012, 9:56 AM
    Hawker Beechcraft plans to emerge from bankruptcy protection as a standalone company after talks for a $1.79B sale with a Chinese suitor broke down. The company, which is owned by Goldman Sachs (GS) and Onex, intends to change its name to Beechcraft and focus on turboprop, piston, special mission and trainer/attack aircraft. The firm is evaluating options for its Hawker products, including closing the jet business. (PR)
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  • Sep. 7, 2010, 9:23 AM
    ResCare (RSCR) agrees to an increased buyout offer from investment firm Onex (ONEXF.PK) that values the provider of home care to the elderly at about $384M. The $13.25/share bid is a 6.4% premium to Friday's closing price. RSCR +6.4% premarket. (PR)
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  • Aug. 16, 2010, 10:27 AM
    Res-Care (RSCR +20.8%) receives a proposal from Onex (ONEXF.PK) to purchase the stake of company it doesn't already own, valuing the provider of home care to the elderly and people with disabilities at $365M, a 24% premium to Friday's $12.60/share closing price. (PR)
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  • Jul. 27, 2010, 7:18 AM
    Canadian P-E firm Onex (ONEXF.PK) and the Canada Pension Plan Investment Board agree to buy British car-parts maker Tomkins (TKS) for £2.89B ($4.5B). It's the latest example of North American buyers capitalizing on the pound's relative weakness to snap up British assets. (PR)
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  • Jul. 19, 2010, 9:42 AM
    British car-parts maker Tomkins (TKS) receives a $4.5B bid approach from Canadian private equity firm Onex (ONEXF.PK) and the Canada Pension Plan Investment Board. It's the latest example of North American buyers eager to capitalize on the pound's weakness to snap up British assets (I, II).
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Company Description
Founded in 1984, Onex is one of the oldest and most successful private equity firms with a long, established track record and a disciplined, active-ownership approach to investing. Onex focuses on creating long-term value by building industry-leading businesses in partnership with outstanding... More
Sector: Technology
Country: Canada