Financial Services Industry
Industry: Email Alert RSS FeedKKR shores up Hollinger bid.
Financial News, April, 2004
KKR, the venture capital group, has signed Goldman Sachs to act as adviser on its bid for Hollinger International, publisher of The Daily Telegraph.The investment bank's support will be seen as heavyweight endorsement for KKR's bid, which industry analysts view as one of the most credible in the complex auction of both Hollinger and its individual newspapers.
KKR is one of only two known bids for the whole company. Unconfirmed Wall Street rumours circulating late last week held that the venture capital firm had bid $23 ([pounds sterling]12.8) a Hollinger International share, which would value the group at $2bn ([euro]1.6bn).
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