A couple of interesting acquisitions/acquisition rumors have caught my eye lately. First off, Barclays has finalized its deal to sell its iShares unit to CVC Capital Partners for $4.4 billion. This is a pretty decent-sized transaction for the PE industry and is being financed mostly by Barclays. The other bidders in this deal: Bain Capital, Hellman & Friedman, and Goldman Sachs. That's an impressive lineup.
As if this isn't enough, Verizon is also receiving a bid for its mobile-phone operations from the Blackstone Group, and a joint bid for the same unit from KKR/Carlysle Group. Could the purchase of established assets be the latest trend for PE firms? Such a situation seems like a win-win for all: PE firms finally put their capital to work and try to fulfill their reputation of having strong business acumen, and firms who receive bids get a good chunk of change to (1) buy-back stock, (2) increase dividends, (3) pay off debt, or (4) make acquisitions in turn.
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The PC will go back to being mostly for business.
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