Only a few months ago, business journalists — ourselves included — were
pondering who the "next big buyout" candidate would be. Talk centered around
Cedar Fair, Home Depot and Macy's. No deal seemed too big. However, with the
credit crunch curtailing private equity deals, reporters are in search of the
next big story, which seems to be bankruptcy, as illustrated by speculation
surrounding builder Beazer Homes and mortgage lender Countrywide Financial —
not to mention the Chapter 11
filing
of Cerberus-owned Aegis and other lenders. However, if Countrywide filed
for bankruptcy, then on paper it would surpass Worldcom's $107 billion filing,
so it comes as little surprise that our colleagues elsewhere are brushing up
on Bankruptcy Code, a subject The Deal covers all the time — even when the
rest of the business press was speculating on the next big buyout. —Matthew
Wurtzel
See
Countrywide speculation from Dealbook
See
Beazer speculation from The Wall Street Journal (subscription required)
See
Beazer speculation from BloggingStocks
See Bankruptcy
Insider for recent Chapter 11 filings
Tags:
private+equity,
deals,
private-equity,
bankruptcy
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