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Alliance Data: Vital FDIC decision expected in October; likely to set guideline for UDFI and OCC - sources
The decision on the Blackstone Group’s application for change of control for the Texas-based Alliance Data Systems’ industrial bank is likely to come through in October, market sources suggested. by dealReporter
Stork negotiations with Candover and LME/Marel likely to take until at least end of closing period, could provide update on Monday
Negotiations between LME/Marel, Candover and Stork are likely to take at least until next week, it was said today. by dealReporter
Lindex shareholders face tough decision on Kappahl bid, shareholder association to give opinion on recap and other options after 19 Sep
The Swedish shareholders’ association, Aktiespararna, will make a recommendation on which option shareholders should accept in the Lindex/ Kappahl situation after a committee meeting on 19 September, said representative Gunnar Ek. by dealReporter
Sallie Mae: Price cut bordering on inevitable as sources reflect on HD Supply
As President George W. Bush nears signing into law the bill that will cut federal subsidies to student loan firms and boost student grant funding, a renegotiation of the Sallie Mae offer by the private equity buyers is becoming increasingly more feasible, it is understood. by dealReporter
Sainsbury bid would be public offer after around four weeks due diligence, GBP 500m extra equity under discussion
A bid for Sainsbury is likely to be made as a public offer and could come within four or five weeks of a decision to open the books, it was said. by dealReporter
ABN Amro: RBS consortium currently sees no grounds to invoke MAC clause
The Royal Bank of Scotland (RBS) led consortium bidding for ABN Amro currently sees no grounds for invoking a material adverse change clause to lower its bid for the listed Dutch bank, it is understood. by dealReporter
Reddy Ice Holdings: Banks unwilling to negotiate definitive documentation until larger transactions get priced, sources say
Reddy Ice Holdings’ banks have yet to finalize the terms of the LBO-related debt financing which they intend to syndicate and sell to investors, a first source familiar with the process said. by dealReporter
Stork solutions being discussed include joint bid or agreement to buy Stork Food Systems; first formal talks a positive sign for compromise
Solutions being discussed for the deadlock between Candover and major Stork shareholder LME/Marel include an agreement to buy Stork Food Systems and a joint bid, it is understood. by dealReporter
Sainsbury bidder working on non-price items as pressure for price increase vanishes
Work on Delta2’s approach for Sainsbury has shifted to non-price factors, while shareholder demands to increase the offer price have disappeared, people familiar with the situation said. by dealReporter
First Data: as much as 30% of bank loans could stay on banks’ books; no decision on HY Bonds - sources
While the rumored Tuesday closing of First Data’s take-private deal could prove to be only market chatter, sources familiar with the situation said banks are nearer to agreeing on which part of the LBO-related debt will find its way into the primary market. by dealReporter
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