Press digest - October 6
KKR•The digest lists KKR’s agreement to acquire Gen II in a deal valuing the business at roughly $5 billion including debt, and C.H. Robinson’s $5.8 billion agreement to buy RXO. It also reports shareholder pressure on Mattel and a $1.4 billion debt-default allegation against Electronic Arts.
1. Deals and shareholder pressure
KKR has agreed to acquire private-capital fund administrator Gen II in a transaction valuing the business at roughly $5 billion including debt. C.H. Robinson has agreed to acquire rival freight broker RXO for $5.8 billion in cash and stock, creating a logistics company with an enterprise value exceeding $25 billion. Mattel shareholder Ariel Investments, which holds a 5.4% stake, has urged the toy maker to hire an independent financial adviser and explore strategic alternatives, including a potential sale.
2. Debt and other developments
Electronic Arts bondholders have alleged a $1.4 billion debt default, escalating a dispute over whether the video-game maker must repay them at a premium after its leveraged buyout. L’Oreal’s U.S. subsidiary is working with advisers as it considers options for addressing liabilities tied to litigation over talc products. President Donald Trump said his super PAC would finance pro-Trump television advertisements instead of using taxpayer funds.
