« New Business | Main | Advertising Information »
August 10, 2006
Top Stories
ARAMARK ACQUIRED BY INVESTMENT GROUPS FOR $8.3 BILLION...ARAMARK Corporation signed a definitive merger agreement under which Joseph Neubauer and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC will acquire the world leader in professional services in a transaction valued at approximately $8.3 billion, including the assumption or repayment of approximately $2.0 billion of debt. ARAMARK reported sales of $2.93 billion for the third quarter of 2006, up 5 percent from the prior year quarter. Net income for the quarter was $35.0 million and diluted earnings per share were $0.19.
CIBC RENEWS CONTRACT WITH HP FOR $1.2 BILLION...The Canadian Imperial Bank of Commerce (CIBC) and HP have amended and extended their information technology outsourcing agreement for an additional four years, which will take it to 2013. The total value of the contract is approximately US$1.2 billion over the next seven years. The agreement revises a previous contract initiated in 2002.
ACS REPORTS QUARTERLY, FISCAL YEAR RESULTS...Affiliated Computer Services, Inc., announced fourth quarter fiscal year 2006 revenues of $1.38 billion, an increase of 14% compared to the fourth quarter of the prior year. Fourth quarter reported diluted earnings were $86.9 million, or 73 cents a share, down from $111 million, or 87 cents a share, a year ago. Fiscal year 2006 revenues were $5.35 billion, a 23% increase compared to the prior year. Reported diluted earnings for fiscal 2006 were $2.90, and included certain restructuring charges and other items.
Posted by jbowles at August 10, 2006 06:23 PM
