Business Services Industry
US credit crunch squeezes Coles bid.
Australasian Business Intelligence, June, 2007
Byline: Malcolm Maiden
Jun 27, 2007 (The Age - ABIX via COMTEX) -- The strained private equity sector in the US may create difficulties for Australia's Coles Group. All bids for Coles must be placed by 1 July 2007, however bidders relying on leveraged buy-out funding may struggle to meet the deadline. The US bond market is also on edge, after Bear Stearns announced its decision to step in and assist two at-risk hedge funds. However, some analysts believe that the credit squeeze will not affect takeover bids for Coles, due to the group's high value.
Publication Date: 28 June 2007
COLES GROUP LIMITED - ASX CGJ
BEAR STEARNS
TPG CAPITAL LP
All copyright subsisting under the Copyright Act 1968 (Commonwealth) resides in us. No...
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