The 2020 Mid-Year Economic Update_long

Day: August 22, 2007

Goodyear Engineered Products Now Veyance

Post-acquisition by The Carlyle Group, Goodyear Engineered Products, Akron, OH, has changed its name to Veyance Technologies Inc.
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The company will continue producing Goodyear Engineered Products brand industrial, military and automotive products.
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The company's management team remains in place.
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In other news, the new Veyance has strengthened its North America position in the conveyor belt industry with the purchase of the former Industrial Specialty Fabrics of
Hogansville, GA. The operation has been renamed Specialty Fabrics & Converting ...

Report: No Agreement Yet in HD Supply Negotiation

The Financial Times has reported that the buyers of HD Supply want a more than $1 billion price cut to the agreed-upon $10.3 billion purchase price. The parties recently moved the closing date for the sale by Home Depot&nbsp ; back to Thursday, Aug. 23 -tomorrow.
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The paper reported that one market investor expects the new price could be closer to $8.5 billion, a sentiment echoed earlier this month by industry analysts.
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At the original price of $10.3 billion, the buyers would have paid 10X-12X EBITDA. Tightening credit markets forced the deal-makers back to the table.
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The buyers would have to pay a $310 million break-up fee if they decide to walk away from the deal, FT said.
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