onex corporation (ONEXF) Key Developments
Onex Considers Acquisitions
Jul 16 14
Robert Le Blanc, a Senior Managing Director with Onex Corporation (TSX:OCX), which announced the acquisition of York Risk Services Group, Inc., said, "We are excited to partner with Rick and his team to continue York's impressive track record of growth both organically and through strategic acquisitions."
Dave & Buster Mulls IPO- Reports
Jun 4 14
Dave & Buster's Inc. has revived plans for an initial public offering after talks for acquisition between Dave & Buster's Inc.'s owner Oak Hill Capital Partners and Onex Corporation (TSX:OCX), Cineplex Inc. (TSX:CGX) and Apollo Global Management, LLC (NYSE:APO), Reuters reported citing three people familiar with the matter.
Onex Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014
May 16 14
Onex Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company's revenues were $6,525 million compared with $6,325 million a year ago. Earnings before income taxes and discontinued operations were $85 million compared with loss before income taxes and discontinued operations of $297 million a year ago. Earnings from continuing operations were $69 million compared with loss from continuing operations of $309 million a year ago. Net earnings for the period were $99 million compared with net loss of $271 million a year ago. Loss from continuing operations attributable to equity holders of the company was $67 million or $0.60 per basic and diluted share compared with $339 million or $2.98 per basic and diluted share a year ago. Net loss attributable to equity holders of the company was $40 million or $0.36 per basic and diluted share compared with $308 million or $2.71 per basic and diluted share a year ago. Net cash flows from operating activities were $28 million compared with net cash used in operating activities of $68 million a year ago. Purchase of property, plant and equipment was $114 million compared with $173 million a year ago.
Onex Corporation Approves Quarterly Dividend, Payable on July 31, 2014
May 15 14
Onex Corporation announced that its Board of Directors has approved a 33% increase in the quarterly dividend to CAD 0.05 per Subordinate Voting Share. This increase follows a 36% increase in the dividend rate in May 2013 and reflects Onex' success and ongoing commitment to its shareholders. The increased dividend is payable on July 31, 2014 to shareholders of record on July 10, 2014.
Dave & Buster's Reportedly Draws $1.1 Billion Bid From Roark Capital Group
May 15 14
The auction of Dave & Buster's Inc. has taken another twist, as two private-equity firms emerged as potential buyers of Dave & Buster's Inc. Roark Capital Group in recent weeks offered nearly $1.1 billion, including debt, for Dave & Buster's, said people familiar with the matter. The bid from Roark Capital came after discussions Dave & Buster's had with another potential buyer broke down, they said. Onex Corporation (TSX:OCX) and Cineplex Inc. (TSX:CGX) had been seen as the front-runner to buy Dave & Buster's after it offered more than $1 billion for Dave & Buster's, people familiar with the matter said last month. In addition, Permira Advisers Ltd. is in the early stages of weighing a bid for Dave & Buster's, some of the people said. Dave & Buster's could ultimately decide against a full sale, and instead launch an initial public stock offering sometime after Labor Day, some of the people said. Dave & Buster's canceled a previously planned IPO in October 2012, citing market conditions. Apollo Global Management, LLC (NYSE:APO) made an unsuccessful offer for Dave & Buster's earlier this year. Dave & Buster's then held extensive negotiations with Onex and Ciniplex.