Investors Bid $12B for Denmark's TDC
A Reuters newswire article, via CNN/Money, reports that:
Five of the world's biggest private equity firms have agreed to pay $12 billion in cash for Denmark's top telecoms company, TDC, in the largest European leveraged buyout in history.
The consortium of Apax Partners, Permira, The Blackstone Group, Providence Equity Partners and Kohlberg Kravis Roberts & Co. bid 382 Danish crowns ($60.25) per TDC share, a 6 percent premium to its Tuesday closing stock price.
TDC, one of Europe's smaller former telecoms monopolies, was approached by the private equity consortium in September. Sources close to negotiations had told Reuters on Monday the bidders were finalizing a deal amid a rash of telecoms tie-ups across the continent.
posted by Fergie @ 11/30/2005 06:06:00 AM
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