All articles tagged with #sale process
Sportico notes Aditya Mittal and former Celtics owner Wyc Grousbeck have filed a letter of interest to bid on the Seattle Seahawks, with Vinod Khosla also preparing a bid; the Paul Allen Estate’s sale could reach $8–10 billion, possibly making it NFL’s most expensive deal, though Seattle ties may emerge later in the process.
Five groups are bidding to buy the San Diego Padres, led by Vuori founder Joe Kudla partnering with Drew Brees; other suitors include Joe Lacob and José Feliciano. First-round offers were due, with whispers of a near-$3 billion price tag as MLB eyes a possible deal around Opening Day.
The Estate of Paul G. Allen has begun a formal sale process for the Seattle Seahawks, appointing investment bank Allen & Company and law firm Latham & Watkins to lead. The sale is expected to continue through the 2026 offseason and must be ratified by NFL owners in a final purchase agreement, in line with Allen’s directive to eventually sell his sports holdings and direct proceeds to philanthropy.
The estate of Paul G. Allen has launched a formal sale process for the Seattle Seahawks, ten days after the team’s Super Bowl victory. Allen bought the franchise in 1997 and died in 2018; the sale proceeds are intended for philanthropy. Forbes values the Seahawks at about $6.7 billion, making them among the NFL’s most valuable franchises. The sale is being led by Allen & Company and Latham & Watkins, with sister Jody Allen as executor, and comes after other marquee deals like the Commanders’ 2023 sale; the Trail Blazers’ sale is also progressing under separate terms.
The Seattle Seahawks, owned by Paul Allen's estate and overseen by executor Jody Allen, have launched a formal sale process led by Allen & Co. and Latham & Watkins. Coming off a 2026 Super Bowl victory, the sale could be one of the biggest in NFL history, with prior valuation around $7 billion and the Commanders' $6 billion sale in 2023 cited as context; a deal would be finalized after NFL owners ratify the purchase agreement.
First Brands Group has begun winding down its North American Brake Parts Inc., Cardone, and Autolite brands as it pursues strategic sale transactions; remaining units continue to operate while the company evaluates pathways to transition those operations to new ownership under its Chapter 11 proceedings, with ROW operations and other North American businesses largely unaffected and ongoing advisory and claims processes in place.
Del Monte Foods has filed for Chapter 11 bankruptcy to facilitate a strategic sale and strengthen its financial position, securing $912.5 million in debtor-in-possession financing to continue operations during the process, with the goal of creating a more sustainable and successful company under new ownership.
A bankruptcy judge expressed concerns over the transparency of the sale process in which The Onion, a satirical news site, won an auction for Alex Jones' Infowars website. Judge Christopher M. Lopez plans to hold a hearing next week to address these concerns and potentially approve the sale.
U.S. chip designer Synopsys is reportedly initiating the sale of its software integrity business, potentially valued at $3 billion or more, following its recent agreement to acquire engineering software firm Ansys. The company is working with an adviser to assess buyer interest, with private equity firms likely to show interest. While deliberations are ongoing and no certainty exists regarding a transaction, the move aligns with Synopsys' exploration of strategic alternatives for the software integrity business as announced by its CEO in November.
Deutsche Bahn has officially launched the sale process for DB Schenker, its logistics subsidiary, with potential buyers asked to register their interest by mid-January. The sale proceeds will be used to reduce Deutsche Bahn's debt and allow it to focus on its core business. The move sets the stage for potential M&A activity in 2024, with DSV and UPS among the rumored interested parties.
U.S. Steel and Cleveland-Cliffs are in a dispute over a confidentiality agreement that would allow Cleveland-Cliffs to participate in the sale process of U.S. Steel. U.S. Steel has not granted access to its books to Cleveland-Cliffs, as the latter refuses to sign a standstill agreement preventing it from challenging U.S. Steel's board of directors. Cleveland-Cliffs wants to keep its options open as it pursues the acquisition. U.S. Steel has made the standstill agreement a condition for due diligence and participation in the sale process. Other potential bidders are being granted access on the same terms. It remains uncertain whether U.S. Steel will agree to a deal with any party.
The Federal Deposit Insurance Corporation (FDIC) is reportedly considering breaking up Silicon Valley Bank (SVB) into at least two components and relaunching the sale process after the initial auction failed to attract buyers. Under the potential plan, SVB's private bank would be a separate entity with a Wednesday deadline for auction, while SVB's depositary bank would be put up for sale in a separate auction with bids due Friday. SVB was taken into receivership by the FDIC on March 10, 2023, after it failed amid a bank run and liquidity crunch.
The FDIC is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank on Friday in a separate auction process. The regulator is considering retaining some of the assets that are underwater at the failed lenders.
The FDIC is planning to relaunch the sale process for Silicon Valley Bank (SVB) after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank, which includes all its consumer deposits, on Friday in a separate auction process. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday.