Monday, March 28, 2005

Biggest LBO since KKR bought RJR

A group of the nation's biggest private investment firms reached a deal yesterday to buy SunGard Data Systems for $11.3 billion, according to executives involved in the deal, making it the largest leveraged buyout since Kohlberg Kravis Roberts & Company bought RJR Nabisco in 1989. • Go to Article from The New York TimesGo to Article from Bloomberg NewsCredit Suisse First Boston acted as financial advisors to SunGard. In addition, Lazard also provided a fairness opinion to the board of directors of SunGard. Shearman & Sterling LLP acted as legal advisor to SunGard. Morgan, Lewis & Bockius LLP acted as legal advisor to SunGard's management. The transaction will be financed through a combination of equity contributed by each of the consortium partners and debt financing provided by JPMorgan, Citigroup Global Markets Inc., Deutsche Bank Securities, Goldman Sachs and Morgan Stanley, who also acted as financial advisors to the consortium partners. • Go to News Release from SunGard Data

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