Last $53.48 USD
Change Today -1.18 / -2.16%
Volume 47.3K
ONEXF On Other Exchanges
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As of 5:20 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

onex corporation (ONEXF) Key Developments

Suitors Reportedly Proceed To Second Round Of Bidding For Emerson Power Unit

A number of industrial companies and private equity firms have moved to the second round of bidding for the power transmission solutions business of Emerson Electric Co. (NYSE:EMR), Reuters reported, citing sources. Among the bidders are Timken Co. (NYSE:TKR), Regal Beloit Corporation (NYSE:RBC), Altra Industrial Motion Corp. (NasdaqGS:AIMC), Warburg Pincus LLC and Onex Corporation (TSX:OCX). Emerson has been evaluating options for the unit, which is valued at between $1.2 billion and $1.6 billion. A decision is expected by the end of 2014.

Onex Opens an Office in London; Appoints Stephen Baker to Head London Office

Onex has opened an office in London to expand its platform to Europe. Stephen Baker has been assigned to lead the team. Initially, the platform will focus on placement of European CLOs (collateralized loan obligation).

Onex Corporation Announces Management Changes Effective March 1, 2015

Onex Corporation announced that Christopher Govan will succeed Donald Lewtas as Chief Financial Officer effective March 1, 2015. Mr. Lewtas, 62, joined Onex in 1987 and has been Chief Financial Officer since 2008. Mr. Lewtas will continue to oversee Onex' group purchasing and shared services initiative and be available to ensure a smooth transition to Mr. Govan. Mr. Govan, 44, joined Onex in 1998 and currently serves as a Managing Director, responsible for corporate and fund administration, and taxation. In his new role, Mr. Govan will also oversee Onex' finance, treasury, reporting and technology functions.

Onex Corporation Declares Third-Quarter Dividend, Payable on October 31, 2014

The board of directors of Onex Corporation declared on September 18, 2014 a third-quarter dividend of CAD 0.05 per Subordinate Voting Share payable on October 31, 2014 to shareholders of record on October 10, 2014.

PE Firms Reportedly Mull Bids For Lafarge-Holcim Portfolio

CRH plc (ISE:CRG) is exploring a bid for all the assets rivals Holcim Ltd. (SWX:HOLN) and Lafarge S.A. (ENXTPA:LG), Reuters reported two sources familiar with the matter. It is belived that Blackstone Mortgage Trust, Inc. (NYSE:BXMT), Cinven and Canada Pension Plan Investment Board are set to bid jointly for the assets, while Advent International Corporation and BC Partners form another consortium with bids valuing the assets at $6.5 billion-$9 billion expected soon. CVC was teaming up with three other limited partners. Bain, Onex and another limited partner form the fourth consortium. A spokeswoman for CRH said the company does not comment on market speculation. A spokeswoman for CRH said the company does not comment on market speculation. Blackstone, Advent, BC Partners, Bain, Lafarge and CVC declined to comment. Cinven, CPP and Onex could not immediately be reached for comment.

 

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Price/Sales 0.2x
Price/Book 5.5x
Price/Cash Flow 3.8x
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