PE Firm Permira May Bid For Reed Business; Drumming Up Interest?
This story was written by Rafat Ali.
Permira, the UK-based private equity firm, has emerged as a potential suitor for Reed Business Information, reports Times UK, citing sources. PE firm have been thought to be the top contenders for a bid price that may reach $2 billion. Also in the process of bidding would be Apax Partners and Guardian Media Group as we reported before. Other PE firms in the line include Cinven, Candover, CVC and Providence Equity Partners, the story says.
WSJ: It is possible the supposed feeding frenzy is just a lot of hype. The potential suitors may be trying to get their names out to suggest to investors they are still busy despite a financing drought. Or Reed, which has seen rivals Informa and United Business Media (LSE: UBM) turn their noses up at the auction, might be trying to stir up the appearance of a competitive sale. Most likely, it is a combination.
By Rafat Ali