Markets & Finance

Private Equity Investors to Buy Aramark


From Standard & Poor's Equity Research

Aramark (RMK) agrees to be acquired by Joseph Neubauer and a number of investment funds, in a deal valued at about $8.3 billion and including $2 billion in debt assumption, at $33.80 in cash per Aramark share held.

News Corp. (NWS.A) signs a pact with Google (GOOG) whereby the Internet company will be an exclusive search and keyword targeted ad sales provider for Fox Interactive Media's growth network of web properties including MySpace.com.

Aleris (ARS) agrees to be acquired by Texas Pacific Group in a $3.3 billion deal, which includes the assumption or repayment of about $1.6 billion of debt, at $52.50 cash per Aleris share. Separately, it posts $1.40 second quarter adjusted earnings per share (EPS.)

Reynolds & Reynolds (REY) agrees to be acquired by Universal Computer Systems, Inc. in a $2.8 billion deal (including the assumption of Reynolds & Reynolds debt), at $40 cash per Reynolds & Reynolds share.

Tekelec (TKLC) posts 19 cents vs. 3 cents second quarter earnings per share (EPS) from continuing operations (non-GAAP) on a 34% revenue rise.

51job (JOBS) posts 16 cents second quarter EPADS (non-GAAP) on a 18% revenue rise. It sees third quarter revenue of $21.6 million to $22.9 million, which is seen below Street views; the company expects 13 cents to 15 cents third quarter EPADS (non-GAAP).

McDonald's (MCD) posts 3.8% higher July comp-sales and 6.7% higher systemwide sales for the company's restaurants worldwide. It also posts 1.9% higher July U.S. comp-sales and 5% higher Europe comp-sales.

Bristol-Myers Squibb (BMY) in its second quarter 10-Q says it sees generic Plavix delivered to customers shortly by Apotex. Bristol-Myers Squibb says it and Sanofi-Aventis (SNY) intend to vigorously pursue enforcement of their patent rights in Plavix.

Sonus Networks (SONS) delays posting second quarter GAAP financial results amid voluntary review of stock option grant process. It posts a 7% second quarter sequential revenue rise.

Priceline.com (PCLN) posts 28 cents vs. 29 cents second quarter EPS (GAAP) despite a 15% revenue rise; 55 cents pro forma EPS beat the consensus. It sees 60 cents to 65 cents third quarter pro forma EPS on a 13% to 17% revenue rise.

Cablevision Systems (CVC) posts 16% second quarter consolidated net revenue growth. It says it will not release second quarter financial results at this time because of ongoing stock option review and expected restatement of results.

Bausch & Lomb (BOL) delays filing its second quarter 10-Q. It believes second quarter net sales totaled $575.4 million and were down 5% from the year ago. It notes negative impact from the MoistureLoc worldwide recall reserve. It also sees $70 million to $80 million 2006 earnings before taxes, and $220 milliion to $270 million in 2007.

Stifel Nicolaus initiates coverage of PMC-Sierra (PMCS) with a buy recommendation.

McData (MCDTA) agrees to be acquired by Brocade Communications Systems (BRCD) in a deal valuing McData shares at about $4.61 per share, at 0.75 Brocade Communications shares for each McData Cl.A and Cl.B share held. McData lowers its second quarter non-GAAP EPS and revenue guidance.

Clear Channel (CCU) posts 39 cents vs. 39 cents second quarter EPS from continuing operations on a 7.4% revenue rise.

Sunrise Senior Living (SRZ) says revenue under management increased 12% to $538 million in the second quarter, while same-community revenue rose by 7.2%. It expects prior EPS guidance for the period 2006 through 2007 will be increased when the company provides updated guidance when it files restated financials.


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