Deal Of The Week

The leveraged buyout (LBO) of medical data provider IMS by private equity (PE) firm TPG and the Canada Pension Plan (CPPIB) feels like a ghost returning to the market. A sizeable ghost it is, at US$4bn, making it the largest buyout since May 2008. Buyouts' share of total PE investments fell to 41% in 2008 from 89% in 2009, as the contraction in the credit markets made it more difficult for PE firms to obtain financing from banks. Not that access to finance has suddenly opened up. Instead, PE has adapted its strategies. IMS bidders are taking on debt amounting

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