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Lots of small businesses do the same -- plumbing outfits, lawfirms, dentists, you name it. Take a lawfirm, for example. Bid on larger projects and take on more than one at a time. Chamber of Commerce, there are about 33 million businesses in the United States and 99.9% of them are small businesses.
Blackstone Real Estate Debt Strategies and Blackstone Real Estate Income Trust partnered with Miami, Florida-based Rialto Capital and the Canada Pension Plan Investment Board to make the successful $1.2bn bid for the 20% interest in a joint venture set up by the FDIC to hold the failed bank’s $16.8bn in commercial real estate debt.
After a high-water mark in 2021, a year when buyers often needed to find ways to sweeten their bids in a very competitive M&A landscape, RWI has been purchased on fewer deals each year. Deal parties are now taking a closer look at whether RWI is best suited to meet their respective needs. What the Data Says Fewer deals today use RWI.
Relieved investors showed their appreciation by collectively bidding the company's shares up by 5.8% GSK announced Wednesday that it has agreed to a settlement with 10 plaintiffs' lawfirms representing around 80,000 Zantac cases -- 93% of the total number. on the day, a performance that easily eclipsed the 0.7%
Lower borrowing costs enable private equity firms to take on more debt, making them stronger contenders in competitive bidding for acquisition targets. In the US, dealmaking is gaining momentum with renewed market optimism following the first interest rate cut by the Federal Reserve in four years.
The previous unreported proposal is an unusual move, but mirrors the broader nationalistic sentiment at display in Canada since the Swiss miner's unsolicited approach for one of the country's top mining firms by market value. billion bid and Ottawa has said Glencore would face rigorous scrutiny.
We have long believed it would take time for the bid-ask spread between buyers and sellers to narrow. One was financial services and one was -- I'm sorry, as professional services, a lawfirm and then one was a GSA deal that were driving those economics. Overall, we continue to outperform our financial expectations.
We just had an engineering firm last quarter, take another 10,000 feet. We've got some lawfirms, several lawfirms that are growing their footprints right now. Ted Klinck -- Chief Executive Officer Look, there's a -- certainly, there's bid-ask spread going on today. And so, it's -- it's across the board.
We stay close to our corporate clients, of course, and spend a lot of time with lawfirms as well. And so -- but bid really is the primary driver. We do have some bid headwinds as well, but we're planning on that to persist throughout the full year. But we'll see. And it's an important capability. Thank you, Alex.
But yeah, then I went to Wachtel afterward because it, it seemed like, because like, you know, you’re, you’re a law student and you don’t know what a lawfirm is. And then like you can spend your second year summer at a lawfirm. And so you end the summer knowing what a lawfirm is.
We also had a seven-figure deal with a large lawfirm expanding our firewall footprint in the new data center and expanding their hybrid workforce initiatives with Prisma Access. One's bidding, twice shy. This deal was part of the consolidation and modernization effort across IT with positive ROI for the customer.
When I was at Penn, I worked at a lawfirm one summer. He’s clearly getting bid back and they’re upset, they’re embarrassed, they feel maybe they have egg on their face and there’s a lot of positioning and jockeying that goes– RITHOLTZ: Little ego involved also. I’ve had a lot of jobs.
He had a construction company and he’d bid a job at $1,000, it cost $1,200, but he’d outbid the other guy who was bidding the job at $1,400. That’s a lawfirm, 20 people. That’s an analyst’s firm. This was my dad’s problem. My dad thought that cash flow was profit.
And Goldman was the size of a lawfirm back then. And I mean, it was literally like the size of a lawfirm, not a giant global institution. We spent weeks, night and day, studying it, decided it wasn’t a good deal, decided not to bid, which I’m fine with. RITHOLTZ: Right.
buyout firm Apollo made a cash bid for Applus Services on Friday which values the Spanish industrial testing company at € 1.23bn ($1.33bn). euros when the suspension was lifted, suggesting expectations of a possible higher bid or counter offer. read more Private equity firm Apollo makes $1.33bn bid for Spain’s Applus U.S.
I did the, the first time I make it make some bid to, to get to know the people and the, write a story about it. 01:07:56 [Speaker Changed] So one other thing I have to ask about is you throw some shade at some of the big lawfirms, Sullivan and Cromwell and others.
In terms of value, the inflated bids resulting from the blind auction process that included unrealistic buyers don't represent a meaningful proxy for real valuation and neither do the stand-alone price targets coming from research firms pandering to the arts. Cliffs is the only union-friendly American solution for U.S.
But the largest of those large lawfirm deal that we did down at Alliance center, that isn't scheduled to commence until 2026. So -- but there's still -- so there's still a bid-ask spread to a certain degree on a lot of assets. So that's Alliance Center, Symphony Place, Westwood South and Cool Springs V. Theodore J.
Citi and Nordea acted as placement agents for the transaction, with SVP and Bjelin Group receiving legal counsel from top lawfirms. Read more Trump names private equity CEO to lead Federal Housing Finance Agency President-elect Donald Trump nominated Bill Pulte, CEO of private equity firm Pulte Capital.
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