Blackstone, BC Partners To Jointly Bid For Frozen Foodmaker Iglo: Reports

The Blackstone Group Investor Day At 8:00 AM ET

Blackstone Profit Jumps - Update

The Blackstone Group Q1 13 Earnings Conference Call At 11:00 AM ET

Blackstone Group Q1 Profit Rises - Quick Facts

Trade BX now with

6/21/2012 4:26 AM ET

US-based investment and advisory firm Blackstone Group LP (BX: Quote) and UK-based private equity firm BC Partners will submit a joint bid on Thursday to buy European frozen foodmaker Iglo Group for $3 billion, media reported Thursday.

Under the proposed deal, each will take 50 percent of the business, owned by Permira. Earlier this week, both companies reportedly got permission to submit a joint bid from Permira, after Blackstone withdrew from the auction at the end of last week.

Permira bought Iglo from Unilever PLC for 1.7 billion euros in 2006. Permira has appointed Credit Suisse to manage the sale process.

Click here to receive FREE breaking news email alerts for The Blackstone Group and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 165 Articles Next>>

Editors Pick

Fed Concerns Contribute To Lackluster Session On Wall Street - U.S. Commentary

There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses.

Stocks Come Under Pressure Amid Worries About The Fed - U.S. Commentary

Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session.

U.S. Durable Goods Orders Rise 3.3% In April, More Than Expected

After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.