Top ten dealsThe biggest private equity deals of all time.NEW YORK (Fortune) -- The first takeover of a public company by a private equity firm was in 1979, when KKR bought machine-tool maker Houdaille for $355 million. But nine of the 10 biggest deals ever are from the last three years. (Values include assumed debt) 1. $38.9 billion - Equity Office Properties Trust Acquirer: Blackstone Year: 2007 Comments: A fierce bidding war drove up the price by $3 billion. 2. $32.7 billion - Hospital Corp. of America Acquirers: Bain, KKR, Merrill Lynch Year: 2006 Comments: The buyers, including the Frist family, paid only $5.5 billion in equity. The rest was debt. 3. $31.1 billion - RJR Nabisco Acquirer: KKR Year: 1989 Comments: It's the Sgt. Pepper's of PE: oft imitated but never topped_ when adjusted for inflation. 4. $27.4 billion - Harrah's Entertainment* Acquirers: Apollo, Texas Pacific Year: 2006 Comments: The club's $90-per-share offer was a huge 35% premium over the casino's closing stock price. 5. $25.7 billion - Clear Channel Communications* Acquirers: Bain, Thomas H. Lee Year: 2006 Comments: The Mays family's stake is valued at over $1 billion. 6. $21.6 billion - Kinder Morgan* Acquirers: Carlyle, Riverstone, Goldman Sachs Year: 2006 Comments: Goldman did the deal and earned fees from the buyers and seller. 7. $17.6 billion - Freescale Semiconductor Acquirers: Blackstone, Carlyle, Permira, Texas Pacific Year: 2006 Comments: U.K.-based Permira established a beachhead in U.S. megadeals. 8. $17.4 billion - Albertson's Acquirer: Cerberus Year 2006 Comments: Joining with CVS and SuperValu, Cerberus spurred management to go private. 9. $15.0 billion - Hertz Acquirers: Carlyle, Clayton Dubilier & Rice, Merrill Lynch Year: 2005 Comments: Bought from Ford, then sold to the public a year later. 10. $13.9 billion - TDC Acquirers: Apax, Blackstone, KKR, Permira, Providence Year: 2005 Comments: The buyout of the Danish telecom is Europe's biggest private-equity deal so far. |
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