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Entries tagged "write downs"Deal-related write-down prompts NYSE Euronext lossTwo years after the New York exchange merged with its European peer, the company took a massive write-down that led to a fourth-quarter loss of $1.34 billion or $5.06 per share. Permira's Sherwood: Only a 'miracle' can prevent big PE write-downsThe bleak predictions coming out of top private equity dealmakers are starting to pile up, as the industry braces for the dismal task of writing down the value of portfolio companies purchased at sky-high valuations in 2006 and 2007, when easy debt made almost any deal seem like it could be profitable. Charles Sherwood, a partner at U.K. buyout shop Permira, predicted that it would take a "mathematical miracle" for any equity value to be left in many of the deals from that heady period, according to the Financial Times.... Analysts predict another $44B in bank write-downs in fourth quarterHere come (more) write-downs. The international banking system's been nearly crippled from hundreds of billions in write-downs this year, and there appear to be plenty more on the way, enough in the fourth quarter to potentially wipe out the effects of the $350 billion already spent from the bailout package. ... Midwestern regional banks continue to bleedIf Midwestern regional banks -- National City Corp., Fifth Third Bancorp and KeyCorp -- were in a hospital, they'd be listed in critical condition with doctors and nurses scrambling for ways to stop the bleeding. Their peer U.S. Bancorp would be down the hall, in fair condition, but with its vital signs being closely monitored. All four regional banks announced third-quarter earnings Tuesday morning, with U.S. Bancorp coming in as the lone profitable bank of the group. ... Merrill's losses may force BlackRock saleWith all of the big losses that Merrill Lynch & Co. is racking up, the bank may be forced to part with coveted fund manager BlackRock Inc. after all, just to shore up its balance sheet.... Out of fear of Big Brother, banks take big losses on Endemol debtThe banks holding the leveraged debt financing for reality television producer Endemol NV are taking a big cut on the sale of the $1.7 billion in loans that financed the deal. The loans could sell at prices as low as 70 cents on the dollar. But Barclays Capital, which also underwrote the debt, declined to participate in the sale. ... PE heads still see trouble ahead for debt marketsTwo of the best known names in private equity -- Terra Firma's Guy Hands and the Carlyle Group's David Rubinstein -- have taken a dim view of the state of the debt markets and banks in recent days. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "write downs." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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