Monday, 22 December 2014
Last updated 51 min ago
Dec 20 2006 | 11:25am ET
The Carlyle Group will pay $1 billion for roofing product manufacturer ElkCorp, the first step in its plan to create a leading roofing materials maker.
Under the terms of the deal, which still must be approved by ElkCorp shareholders, Carlyle will pay $38 per share and assume about $173 million in debt. Separately, the Washington, D.C.-based private equity firm struck a partnership agreement with Hood Cos., planning to merge ElkCorp into Hood subsidiary Atlas Roofing Corp., though the deal for ElkCorp is not contingent on completing an agreement with Atlas.
“We are eager to work with Carlyle to grow our business and see the combination with Atlas as a tremendous opportunity to expand both companies,” ElkCorp CEO Thomas Karol said.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.