The Company Was Private Owned At First

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Shobhit Seth is a freelance writer and an expert on commodities, stocks, alternative investments, cryptocurrency, as well as market and company news. In addition to being a derivatives trader and consultant, Shobhit has over 17 years of experience as a product manager and is the owner of FuturesOptionsETC.com. He received his master's degree in financial management from the Netherlands and his Bachelor of Technology degree from India.
A private company is any corporation that is held under private ownership. While they may issue stock and have shareholders, they aren't listed on and don't trade shares on stock exchanges. This means that, unlike public companies, they aren't required to file paperwork or meet the guidelines of the Securities and Exchange Commission (SEC).
Remaining private allows companies a larger degree of freedom. For instance, management can embark on long-term, innovative, and high-risk, high-return ventures and they aren't bound by the pressures of quarterly results. Some public companies, on the other hand, may choose to go private for a number of reasons. In most cases, they may be bought out by a private company or a venture capitalist firm that sees them as a great investment opportunity. This means being delisted from a stock exchange, with shareholders often getting cash or stocks in a defined proportion.
This article looks at 10 of the most popular public companies that went private, There is no particular order in which they're listed.
Remaining private allows companies a larger degree of freedom, while some public companies may choose to go private for a number of reasons.
Alliance Boots had the biggest buyout in Europe of its time and was worth $22.2 billion.
Burger King began as a private company and went public twice before merging with Tim Hortons.
H.J. Heinz was taken private by Berkshire Hathaway and 3G Capital in June 2013.
Reader's Digest was acquired by Ripplewood Holdings in March 2007 for $2.62 billion, filed for Chapter 11 bankruptcy in 2009 and 2013, and was sold for £1 to a venture capitalist.
The company, listed on the London Stock Exchange (LSE), holds the record of the biggest buyout in Europe of its time. The overall price was worth $22.2 billion. Alliance Boots—commonly known as Boots in the United Kingdom—was bought by Kohlberg Kravis Roberts & Co. (KKR), along with Italian billionaire Stefano Pessina in 2007 for roughly £12.4 billion.
The health care and pharmacy chain was established in 2006 following the merger of two European companies—wholesale and retail pharmacy group Alliance UniChem and the Boots Group, a U.K.-based pharmacy. The deal was announced in 2005 and was estimated to be worth £7 billion. Boots was originally founded in Nottingham, U.K., in 1849 by John Boot.
American pharmacy chain Walgreens purchased a 45% stake in the private company in 2012, paying $6.7 billion for the deal that would take three years to fully implement. Both companies became subsidiaries of the newly-formed Walgreens Boots Alliance.
Few companies experience more than one initial public offering (IPO). Burger King, on the other hand, had two. Originally a private company, the restaurant chain went public in 2006. Shares traded on the NYSE under the ticker symbol BKC. The company raised $425 million when shares first began trading.
The company was then taken private in 2010 by 3G Capital. The company purchased the restaurant chain for roughly $3.26 billion. Burger King was relisted as a public company in 2012. 3G Capital constructed this second IPO along with Pershing Square Capital lead by Bill Ackman and was also involved with the H.J Heinz acquisition. 
In 2014, Burger King merged with Canadian coffee chain Tim Hortons. The merger was estimated to be worth roughly $18 billion. This led to the formation of a new company—Restaurant Brands International. Both Burger King and Tim Hortons, which traded on the Toronto Stock Exchange (TSX) were delisted and began trading on the TSX under the newly-formed company's ticker symbol QSR.
The Burger King-Tim Hortons merger resulted in a new entity called Restaurant Brands International.
Dell is among the world leaders for manufacturing PC, mobile, tablets, and other hardware accessories. The company, headquartered in Round Rock, Texas, has about 160,000 employees around the world.
The buyout of Dell Computers was completed in October 2013. Michael Dell—the company’s founder and chief executive officer (CEO)—and Silver Lake Partners took the company private for $24.4 billion. The company's shares were delisted from both the Nasdaq and the Hong Kong Stock Exchange before going private.
After spending more than five years as a private company, Dell went public again in 2018. The company did so by repurchasing tracking shares in software company VMWare. The deal was worth roughly $24 billion. Michael Dell said he was able to transform the company while it was private. Dell shares began trading on the New York Stock Exchange (NYSE) at $46. As of March 25, 2020, the company's market capitalization was estimated at $28.3 billion.
Equity Office Properties Trust was the largest owner of office and commercial properties across the U.S. until it was bought out. The buyout for Equity Office Properties saw multiple rounds of high-stake bidding with fierce competition from top-notch bidders. It was finally acquired by the Blackstone Group (BX) for $39 billion in February 2007. The company has roughly 80 offices across the country and changed its name to EQ Office in 2018.
You'll probably recognize the Heinz name from its famous ketchup. The company began as the Heinz & Noble Company and was founded in 1869 by Henry John Heinz. The company manufactures and markets food products in more than 200 countries.
In 2015, the company merged with Kraft Foods Group. The new entity would become the fifth-largest food and drink company in the world. Kraft retained its headquarters in Chicago while Heinz kept its Pittsburgh base.
Prior to the merger, Heinz stock originally traded on the NYSE but was delisted after being acquired by Berkshire Hathaway (BRK-A) and 3G Capital in June 2013. Along with assumed debt, the deal was worth about $28 billion.
Panera has more than 2,000 locations nationwide and boasts annual sales of about $5 billion. The company traded on the Nasdaq under the ticker symbol PNRA. On the last day of trading, the stock closed at $314.93 per share.
In April 2017, Panera was acquired by the private investment firm JAB Holding Company—which also owns brands like Keurig, Krispy Kreme, and Peets Coffee and Tea—in a deal worth over $7 billion. 
Hilton is a leading global hospitality and hotel chain with more than 3,000 properties in more than 76 countries. The company was founded by Conrad Hilton in 1919 after he purchased his first hotel in Cisco, Texas. The company's first hotel to use the Hilton name was in Dallas.
In October 2007, Blackstone Group bought the company in a leveraged buyout (LBO) fund for $26 billion and subsequently delisted from the NYSE. Hilton went public again, assuming trading on the NYSE under the ticker symbol HLT in December 2013, with Blackstone keeping more than 45% ownership in the company. The company raised more than $2 billion in its second IPO.
Jo-Ann is one of the largest specialty fabric and craft retailers, with more than 850 stores across 49 U.S. states. Founded in Cleveland in 1943, Jo-Ann is now headquartered in Hudson, Ohio.
The company first traded on the American Stock Exchange (AMEX) under the name Fabri-Centers of America. The company changed the name of all its stores to Jo-Ann Fabrics in 1998. It was delisted in March 2011, following a buyout by Leonard Green, a private equity firm, valued at $1.6 billion.
Kinder Morgan is the second-largest oil-producer of Texas and is one of North America's largest energy infrastructure company. The company also operates in the distribution, transportation, and storage of energy.
The company went private in May 2007, following a buyout from American International Group (AIG), The Carlyle Group, Goldman Sachs Capital Partners, and Riverstone Holdings LLC for $21.6 billion.
The company went public again about four years later, trading on the NYSE under the symbol KMI. This second IPO was reportedly the largest of its kind backed by private equity.
Apart from the Reader’s Digest magazine, which has 50 editions and translations in 20 languages, the group also operates 60 different websites.
The publisher of the world-renowned general-interest magazine, the Reader’s Digest, was acquired by Ripplewood Holdings LLC in March 2007 for $2.62 billion. It was subsequently delisted from NYSE as a result of this private acquisition. The company was plagued with financial problems even before it became private and filed for Chapter 11 bankruptcy twice—the first time in 2009 and again in 2013. In February 2014, venture capitalist Mike Luckwell purchased the company for £1.
Although privatization brings its benefits, it can also lead to increased pressure from the new private owners. Most deals to take public companies private are through investment conglomerates, which may set strict business objectives with tight timelines for company management. It may also be a red flag for employees in cases of mergers or takeovers. Shareholders of such targeted companies usually benefit, as they typically get a premium on the share price at the time of delisting.
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
When a private equity firm buys all the stock in a troubled public company and makes it private in order to revamp its operations and re-sell it at a profit, the process is called repackaging.
Euronext is a pan-European stock exchange, the largest in Europe and the sixth largest in the world, trading markets.
Mergers and acquisitions (M&A) refers to the consolidation of companies or assets through various types of financial transactions.
The Mexican Stock Exchange (Bolsa Mexicana de Valores, or BMV) is Mexico's full-service securities exchange.
FINEX was the financial instruments and currency products division of the New York Board of Trade (NYBOT).
A closed corporation is a company whose shares are held by a select few individuals who are usually closely associated with the business.
Investopedia is part of the Dotdash publishing family.

First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provided nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and Online outlets for nearly a third of all U.S. debit cards.
1971; 50 years ago, in Omaha, Nebraska, U.S.
Patricia Ramos (Former CEO)
Himanshu A. Patel (CFO)
First Data has six million merchants, the largest in the payments industry.[3] The company handles 45% of all US credit and debit transactions, including handling prepaid gift card processing for many US brands such as Starbucks.[3][4] It processes around 2,800 transactions per second and $2.2 trillion in card transactions annually,[5] with an 80% market share in gas and groceries in 2014.[6] First Data's SpendTrend Report is a key shopping metric for national news networks such as WSJ, USA Today, ESPN, The New York Times, Vox Media,[7][8][9][10] and Bloomberg.[11]
In October 2015, First Data returned to public markets, selling 160 million shares in the New York Stock Exchange’s biggest IPO of that year.
On January 16, 2019, Fiserv announced a deal to acquire First Data in all-stock deal with equity value of $22 billion. Fiserv completed the acquisition of First Data on Monday July 29, 2019.[12]
In 1969, the Mid-America Bankcard Association (MABA) was formed in Omaha, Nebraska, as a non-profit bankcard processing cooperative. Two years later, First Data Resources (FDR) was founded in Omaha, Nebraska in June 1971.[13] It started off by providing processing services to the Mid-America Bankcard Association (MABA). In 1976, First Data became the first processor of Visa and MasterCard bank-issued credit cards. In 1980, American Express Information Services Corporation (ISC) bought 80% of First Data. The remaining 20% was purchased in 5% increments each subsequent year until June 1983. First Data Corporation was incorporated on the 7th of April, 1989.
First Data Corporation spun off from American Express and went public in 1992. In 1995, the company merged with First Financial Management Corp. (FFMC) and was then organized into three major business units serving card issuers, merchants and consumers. Western Union became part of First Data as a result of the merger with FFMC.
From 2001 through 2005, a period of expansion occurred as First Data acquired companies around the globe and in the US, including, in 2001, the acquisition of PaySys International and their VisionPLUS Payment Software System. VisionPLUS was followed by a $6.6 billion merger with Concord EFS, Inc. in 2004, which added the STAR Network and PIN-based debit acceptance at more than 1.9 million ATM and retail locations. Additional acquisitions and strategic relationships included GovOne, eONEGlobal, Paymap, Inc., and Taxware. Nevertheless, First Data eventually divested, closed down or absorbed these businesses.
On January 26, 2006, First Data announced its intention to spin off Western Union into an independent publicly traded company through a tax-free spin-off of 100% of Western Union to First Data shareholders. The spin off occurred as planned on September 29, 2006.[14]
On April 2, 2007, it was announced that Kohlberg Kravis Roberts (KKR) had entered an agreement to acquire First Data[15] in one of the largest leveraged buy-outs in history,[16] and on October 1, 2007, KKR officially took over the First Data Corporation. Ric Duques retired, and Michael Capellas, previously the CEO of MCI Inc., the president of Hewlett-Packard Company, and also the chairman/CEO of the Compaq Computer Corporation was appointed CEO. As a privately owned company, First Data's stock was taken off the New York Stock Exchange on September 24, 2007. However, the company's LBO was financed with $24 billion in debt, and it remains heavily leveraged.[16] In June 2014, First Data raised a historic $3.5 billion private placement. $1.2 billion of the placement came from KKR; however the majority, $2.3 billion, was from hedge funds, mutual funds and institutions.[17] With this action the company reduced total debt by $3.3 billion, improving net leverage by 1.3 turns and significantly reducing annual cash interest payments.[18][19] The company continues to maintain investor relations pages on its web site and to publish quarterly financial results. Within two months of the KKR acquisition, the company laid off 1,700 employees across North America, Europe and Australia, about 6% of its workforce.[20]
First Data provided Go-Tag (contactless and mobile payment technology) stickers to delegates and media representatives at the 2008 Democratic National Convention in Denver, who used them to buy food and beverages. These stickers possessed NFC chips which were read by First Data scanners, which through its back-end system deducted the purchase sum from the Go-Tag ID's balance.[21][22] First Data also provided the trusted service manager that provisioned accounts to the new mobile Google Wallet system.[23][24]
First Data entered the Ireland market in a joint venture with Allied Irish Banks PLC named AIB Merchant Services on January 18, 2008.[25] First Data also acquired ICICI Bank's merchant services business in 2009 for 4 billion Indian rupees (US$80 million).[26] It also partnered with Bank of America in 2009 to form Bank of America Merchant Services.[27]
First Data and KKR vetted more than 60 startups before, in October 2013, announcing it had acquired POS startup Clover,[28] cardless mobile loyalty startup Perka.[29] and Gyft in 2014.[30]
In March 2010, Joe Forehand took over as chairman and interim CEO.[31] In September that same year, Jonathan Judge assumed those roles until his early retirement in January 2013,[32] after which Edward Labry covered the interim post.[33]
In April 2013, First Data's Board of Directors announced that former JPMorgan Chase Co-COO Frank Bisignano had been named Chief Executive Officer of the company. In March 2014, Bisignano assumed the role of Chairman.[34] Upon taking office, Bisignano launched an equity ownership plan for all 24,000 of First Data owner-associates.[35]
In 2014, Bisignano promoted notable additions to the company's staff, such as Sanjiv Das, Himanshu Patel, Guy Chiarello, Cindy Armine-Klein, Andrew Gelb, Adam Rosman, Carmen Menendez-Puerto, Joseph Plumeri, Christopher Augustin and Michael Manos.[36][37][38][39][40]
In early 2014, First Data's STAR ATM Network adopted the Visa and MasterCard common application IDs for EMV-compliant debit transactions.[41]
Since joining, Bisignano has tried to "transform First Data into a provider of new technology for small- and medium-sized businesses".[17] In June 2014, First Data introduced the Insightics solution for small and medium size businesses. Insightics is a cloud-based software that enables small and medium size businesses to monitor key business metrics.[42][43] First Data created Insightics with Palantir.[17]
In August 2014, First Data expanded its presence in Brazil with Bin, the company's acquiring solution developed specifically for the local market.[44] In September 2014, First Data announced it would provide encryption technology for Apple Pay.[17] Apple Pay allows payment with a single touch. With its integration into First Data's STAR Network, the company became a token service provider, supporting safe POS transactions in Apple Pay. Such transactions are used in venues such as all McDonald's restaurants in the US.[45]
In October 2014, First Data announced the Enhanced TransArmor Solution for small businesses. First Data's TransArmor Solution protects payment card data throughout the transaction process, incorporating several security and compliance products into one multi-layered solution.[46]
In late 2014, First Data announced its collaboration with Capgemini to develop new solutions based on First Data's AccessPLUS and VisionPLUS products, planning to offer new technologies in the second quarter of 2015.[47] The company also announced its partnership with Verifone, wherein merchants using integrated point-of-sale systems that process payments will have a security option when using terminals made by VeriFone Systems Inc.[48] In 2015, Samsung announced its Samsung Pay mobile system in conjunction with First Data. Samsung Pay uses NFC to make payments at POS systems that accept First Data's technology.[49]
In February 2015, Fi
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