Buyout barons will cheer Blackstone Inc. and Permira for reviving the private equity industry’s mojo with their deal for Adevinta ASA. Minority shareholders in the European classifieds firm won’t be popping the champagne.

Adevinta’s independent directors say the 115 Norwegian kroner-a-share ($10.74) cash offer doesn’t reflect the value the company can generate “over time.” They aren’t making any recommendation. The conventional leveraged finance market is also gummed up. And yet Blackstone and Permira have secured a formal agreement to do a transaction valuing the firm at some €14 billion ($15 billion) including assumed net borrowings.

QOSHE - Buyout Barons Risk a $15 Billion Game of Chicken - Chris Hughes
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Buyout Barons Risk a $15 Billion Game of Chicken

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22.11.2023

Buyout barons will cheer Blackstone Inc. and Permira for reviving the private equity industry’s mojo with their deal for Adevinta ASA. Minority shareholders in the........

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