TPG Looking To Buy PRN?
Adrian J Cotterill, Editor-in-Chief
TPG Capital (formerly Texas Pacific Group) is mooted to still be poking around PRN. These were the guys who allegedly bid USD 60 million some time back.
Many still believe that RMG may end up doing some form of deal to acquire PRN and several insiders have told us that “RMG are really keen to close a deal” but without (the requisite) cash we don’t see how that could happen or (in one possible deal iteration) how a non immediate-cash transaction would help Thomson.
August 27th, 2010 at 21:47 @949
For TPG Capital, a bid of $60 million is pocket change. Having completed multi-billion dollar leveraged-buyout transactions of Burger King, Continental Airlines, and Neiman Marcus – just to name a few – acquiring PRN comes across as an uber low stakes gamble.