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Scott Nuttall, global head of capital and asset management at KKR & Co. LP, said the bull market run in the U.S. equity market could boost the marquee private equity firm’s prospects for selling its portfolio companies to strategic rivals.
Danger looms for U.S. banks looking to take part in the burgeoning LBO and M&A market, says Fitch Ratings. A possible pickup in deals could cause U.S. banks to put too much risk on their balance sheets.
KKR is nearing a deal to buy industrial machinery maker Gardner Denver Inc and could announce the agreement in the next few days, writes Reuters. The two parties have been negotiating a final deal price and other last-minute details over the past week, after KKR bid $75 per share, or nearly $3.7 billion, for Gardner Denver, on Feb. 21, writes Reuters.
KKR & Co. LP (KKR.N) has agreed to charge the Washington State Investment Board a super-low 1 percent annual management fee on the pension fund’s $250 million follow-on commitment to the firm’s flagship fund, KKR North American Fund XI LP, a source tells Buyouts.
The board of Gardner Denver Inc plans to meet on Monday to review private equity firm KKR & Co LP’s $3.7 billion offer for the industrial machinery maker, a source tells Reuters.
HCA Holdings continues to give back to its private equity owners. HCA shareholders, mainly KKR and Bain Capital, are selling 50 million HCA shares in a secondary that could raise as much as $1.86 billion.
Private equity firms are reviving plans for a potential 10 billion pound ($15.7 billion) buyout of the UK’s biggest mobile operator EE, encouraged by recent deals like Virgin Media and Dell, writes Reuters. Big buyout companies including US-based KKR and Europe’s CVC Capital Partners are trying again to persuade banks to help fund a deal they have been unable to get off the ground for the past year, writes Reuters.