Michael Milken

Excerpts: KinderCare Learning Centers, Inc. Following a rapid rise to prominence in the 1970s, the company began to diversify, incurring significant debt along the way that prompted its 1992 filing for bankruptcy. In April 1993, however, KinderCare emerged from bankruptcy and looked forward to renewed success, focusing on filling the specific needs of niche markets, …

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Excerpts: “KKR Strikes (Gold) Again.” Legendary leveraged-buyout (LBO) firm Kohlberg Kravis Roberts struck gold on Friday, as a company in which it owns nearly an 80% interest, child-care and preschool operator KinderCare (OTC BB: KDCR.OB), announced it will be acquired by privately held Knowledge Learning in a transaction set to close before the end of …

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Excerpts: Kohlberg Kravis Will Buy Kindercare for $467 Million Kohlberg Kravis Roberts & Company said yesterday that it had agreed to buy Kindercare Learning Centers Inc., the nation’s largest preschool and child care company, for approximately $467 million, or $20.25 a share. Kohlberg Kravis made the announcement along with Kindercare and Oaktree Capital Management L.L.C., …

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Excerpts: KKR, on Buying Spree, Will Acquire KinderCare Kohlberg Kravis Roberts & Co., continuing its recent spate of acquisitions, said it would acquire KinderCare Learning Centers Inc. for $20.25 a share, or about $470 million, plus the assumption of debt. KinderCare is the nation’s largest provider of child-care services, with 1,148 child-centers in 38 U.S. …

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Robert Baldwin’s return to investment banking

Excerpt: Robert Baldwin’s return to investment banking Speaking of dealmakers: CEOs of undervalued companies may be getting a call from former Morgan Stanley chairman Robert Baldwin. After five years in semiretirement, Baldwin, 69, is chairman of a year-old investment banking boutique called Lodestar Group. With nearly $300 million provided largely by Japanese investors, Lodestar has …

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Those Write-Offs At KinderCare

Excerpts: “Those Write-Offs At KinderCare” Watching with what must have been some nervousness were the principals of the Lodestar Group, an investment banking boutique that is underwriting an unusual recapitalization and split-up of the two companies. Lodestar could end up on the hook for up to $160 million if KinderCare’s share price falls below $5.75 …

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