auction

At a recent bankruptcy auction, a bulletproof Mercedes-Benz Maybach S650 once owned by ex-billionaire Miles Guo fetched a winning bid of $63,000. The luxury car was sold in an online auction, with the winning bid placed by the 115th bidder. The vehicle was initially bought by Guo in 2018 for a sum...

At a recent bankruptcy auction, a bulletproof Mercedes-Benz Maybach S650 once owned by ex-billionaire Miles Guo fetched a winning bid of $63,000. The luxury car was sold in an online auction, with the winning bid placed by the 115th bidder. The vehicle was initially bought by Guo in 2018 for a sum...

New On The Block Mitsubishi Electric plans to sell its automotive equipment business, seeking first-round bids by Jan. 26 from car-parts suppliers and private equity firms. The unit, which makes EV and hybrid inverters, motors, and in-car entertainment systems, has struggled with low profitability...

Barely a year after Saks Global Enterprises splurged $2.65 billion on Neiman Marcus, the honeymoon is already over—and the bill has arrived. Lenders are now in talks about whether to inject more capital to keep the luxury department store empire afloat amid a potential bankruptcy. The drama has put...

At his New Year’s Eve party at Mar-a-Lago, President Donald Trump turned auctioneer, successfully selling a painting of Jesus Christ for $2.75 million. The proceeds from this auction are earmarked for charity. The bidding kicked off at $100,000. The crowd quickly escalated the bids...

New On The Block Francisco Partners is exploring a potential sale of MyHeritage, the genealogy and DNA-testing platform, in a deal that could value the company at around $1 billion, according to Bloomberg News. Jefferies is helping shop the Israeli-founded company, though talks are still in the...

New On The Block That was fast. Compass Diversified bought Atlanta-based feminine care company The Honey Pot last year for $380 million. Now it’s looking to get rid of it. Raymond James is running the sale process, according to Reuters. Finastra Group Holdings Ltd., formed in 2017 from a...

New On The Block Puma SE, a Germany-based sportswear company, is attracting bids from several Asia-based buyers, according to Bloomberg. On the buy-side are Chinese sportswear giant Anta Sports and Li Ning Co., as well as Japan's Asics Corp. The Netflix/Paramount/WBD Saga Netflix (NASDAQ:NFLX)...

New On The Block Saudi Aramco has selected Citigroup (NYSE:C) to oversee the multibillion-dollar sale of its oil export and storage terminals business. The mandate marks a win for Citigroup as CEO Jane Fraser reorganizes the firm and expands business across the Middle East. A formal sale process...

New On The Block Swiss life sciences giant Lonza Group is shopping its capsules and health ingredients division, and the shortlist is full of private equity heavy-hitters. In the running: Altaris, Lone Star Funds, and One Rock Capital. Expected sale price: At least €2.5 billion (US$2.8 billion)....

New On The Block An auction is underway for Bill.com (NYSE:BILL). The business-payments firm, according to Bloomberg, tapped a financial adviser to solicit bids. The sale follows activist pressure from Starboard Value, a firm known for buying up stakes in public companies to get deal processes...

New On The Block Miyoko Schinner — the chef and activist who pioneered artisanal vegan cheese — is mounting a bid to buy back Miyoko's, the plant-based dairy brand she founded in 2014 and was ousted from three years ago. After raising more than $70 million and helping bring cashew-based butter and...

This year’s Halloween isn’t so sweet for CandyWarehouse.com. The Sugar Land, Texas-based company went bankrupt, listing up to $500,000 in assets. President Mimi Kwan told Today.com that the small, family-run company struggled to compete with Amazon.com Inc. (NASDAQ:AMZN), Target (NYSE:...

New On The Block Japan's Kirin Holdings is looking to cut a deal on Kentucky bourbon brand Four Roses at around $1 billion. The problem? Young people aren’t drinking as much these days. Trade tensions with Canada, a key bourbon buyer, haven't helped either. Four Roses is likely to attract...

New On The Block Raymond Zage and James Lu, the 60% stakeholders of Grindr, want to take the dating app private. Semafor states that the pair is in talks with Fortress Investment Group for debt financing to acquire Grindr, potentially at around $15 per share. That’s an estimated $3 billion...