Business Services Industry
Dallas-Based Investment Firm Makes Deals to Buy Roof Maker, Sell Food Company.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, June, 2000 by Alm, Richard
Jun. 24--Dallas-based investment firm Hicks, Muse, Tate & Furst Inc. pulled off two blockbuster deals Friday, taking part in a $3 billion transaction to buy Johns Manville Corp. and selling International Home Foods Inc. in a deal valued at $2.9 billion.
The purchase of Johns Manville, a Denver-based producer of roofing, insulation and other building products, ranks as the largest leveraged buyout in Hicks Muse history in terms of overall purchase price.
The Dallas company put up $375 million, or nearly 60 percent, of the equity investment, with remaining 40 percent coming from Bear Stearns Cos., a large Wall Street brokerage. The rest of the purchase price will be met with $2.35 billion in high-yield debt.
"We're the majority owner," said...
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