Newspaper wrap-up 3-14-07: Goldman Sachs to push deeper into subprime lending
Posted Mar 14th 2007 9:10AM by Eric Buscemi
Filed under: Newspapers, Magazines, Internet, Daimler (DAI), Goldman Sachs Group (GS), KB HOME (KBH), Toll Brothers (TOL)
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MAJOR PAPERS:
- The Wall Street Journal (subscription required) speculated that Carl Icahn's bid for WCI Communities Inc (NYSE: WCI) may be the start of home-builder buyouts. Other possible LBO targets, according to some Wall Street firms, include Toll Brothers Inc (NYSE: TOL), Ryland Group Inc (NYSE: RYL), Beazer Homes USA Inc (NYSE: BZH) and KB Home (NYSE: KBH).
- The Wall Street Journal also reported that Goldman Sachs Group Inc (NYSE: GS) is looking to push deeper into the subprime lending business at a time when the subprime mortgage market is suffering a "meltdown."
- The Financial Times (subscription required) reported that Cerberus Capital Management, one of the leaders in the bid to buy DaimlerChrysler AG's (NYSE: DCX) Chrysler unit, has signed Wolfgang Bernhard to an advisory contract. Bernhard helped restructure Chrysler five years ago.
OTHER PAPERS:
- The U.K. Times reported that a CVC-led private equity group is planning to bid above GBP9.5B for Sainsbury's plc ADR (OTC: JSAIY).
- The U.K. Times also reported that Cadbury Schweppes ADS (NYSE: CSG) is considering spinning off and selling its profitable drinks business, which includes Dr. Pepper and 7-Up, as a way to defend against a takeover bid for the entire group.
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