KKR & Co. (KKR) has dropped out of a bidding group for
lab-equipment maker Beckman Coulter Inc. (BEC), Bloomberg News
reported Friday, citing three people with knowledge of the
matter.
The withdrawal leaves KKR's buyout peers TPG Capital and
Blackstone Group LP (BX) needing to find additional financing or
another investor for the next bidding round in early February, the
sources said.
Industrial conglomerate Danaher Corp. (DHR) and a second-private
equity group that includes Apollo Global Management LLC and Carlyle
Group LP are also interested in Beckman, the people said.
A Danaher spokesman didn't return a call seeking comment,
Bloomberg said, while representatives of Apollo and Carlyle
declined to comment.
KKR exited the TPG-Blackstone consortium more than a week ago,
citing concern that the price for Beckman might get too high,
Bloomberg cited its sources as saying.
Full story at
http://www.bloomberg.com/news/2011-01-28/kkr-said-to-drop-out-of-blackstone-tpg-bidding-group-for-beckman-coulter.html
-Dow Jones Newswires; 212-416-2900