BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Goodman (GGL) being swallowed up by Hellman & Friedman]]>http://www.bloggingstocks.com/2007/10/22/goodman-ggl-being-swallowed-up-by-hellman-and-friedman/http://www.bloggingstocks.com/2007/10/22/goodman-ggl-being-swallowed-up-by-hellman-and-friedman/http://www.bloggingstocks.com/2007/10/22/goodman-ggl-being-swallowed-up-by-hellman-and-friedman/#commentsFiled under: , , ,

Which is the better "man" for the task? Apparently private equity firm Hellman & Friedman, which is shelling out $2.65 billion to acquire heating, ventilation, and air-conditioning equipment manufacturer Goodman Global, Inc. (NYSE: GGL). The move, occurring just as much of America switches their thermostats from "A/C" to "heat" mode, has been approved by a majority of Goodman shareholders.

The finances of the deal break down to about $25.60 per share in cash, representing a 17% premium over Goodman's close on Friday evening. Today, the stock has charged almost 12% higher to approach the $24.50 area.

In an accompanying press release posted on BusinessWire, Goodman president/CEO Charles Carroll said he was "pleased to announce this transaction," noting that the company had "concluded that this ... will both reward our current stockholders and position Goodman for continued profitable growth."

The deal is expected to close in the first quarter of 2008. Hellman raised $1.1 billion in commitments from a number of partners, including Barclays Capital and General Electric Company (NYSE: GE)'s Commercial Finance arm.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Goodman (GGL) being swallowed up by Hellman & Friedman originally appeared on BloggingStocks on Mon, 22 Oct 2007 18:49:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Charles CarrolCharlesCarrolGoodman GlobalGoodmanGlobalinthenewsMon, 22 Oct 2007 18:49:00 EST<![CDATA[Goodman Global warms up to a $1.8 billion buyout]]>http://www.bloggingstocks.com/2007/10/22/goodman-global-warms-up-to-a-1-8-buyout/http://www.bloggingstocks.com/2007/10/22/goodman-global-warms-up-to-a-1-8-buyout/http://www.bloggingstocks.com/2007/10/22/goodman-global-warms-up-to-a-1-8-buyout/#commentsFiled under: , ,

Goodman Global (NYSE: GGL) logoIt's been mostly sporadic, but we are seeing some deals in the private equity world. In fact, today there was a fairly decent transaction: Goodman Global (NYSE: GGL) agreed to a $1.8 billion buyout. The buyer is Hellman & Friedman LLC.

Goodman manufactures heating and air-conditioning systems, and while impressive in the numbers, the deal wasn't much of a surprise. After all, the company recently announced that it was exploring strategic alternatives.

With the soft U.S. economy and ongoing troubles in real estate, the situation had been lackluster with Goodman. But, as a private entity, the company will have some shelter to make some changes (such as cutting costs and perhaps moving operations offshore).

Interestingly enough, Goodman went private back in 2004 (and came back to the public markets in 2006).

In today's trading, Goodman's stock is up 11% to $24.25.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

Goodman Global warms up to a $1.8 billion buyout originally appeared on BloggingStocks on Mon, 22 Oct 2007 17:46:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>GGLGoodman GlobalGoodmanGlobalhousinginthenewsprivate equityPrivateEquityMon, 22 Oct 2007 17:46:00 EST