AsiaInfo-Linkage Looks for More Buyout Offers

China-based telecom software maker AsiaInfo-Linkage Inc., evaluating an offer from a CITIC Capital unit to take it private, said it will solicit similar proposals from others, Reuters wrote Monday. AsiaInfo received an offer from Power Joy Ltd., a unit of CITIC Capital, in January to acquire all of its outstanding shares. Financial details of the offer were not disclosed.

(Reuters) – China-based telecom software maker AsiaInfo-Linkage Inc, evaluating an offer from a CITIC Capital unit to take it private, said it will solicit similar proposals from others.

 

AsiaInfo received an offer from Power Joy (Cayman) Ltd, a unit of CITIC Capital, in January to acquire all of its outstanding shares. Financial details of the offer were not disclosed.

 

The company had formed a special committee of board to consider the offer and appointed Goldman Sachs as a special adviser.

 

Global private equity firms, including KKR & Co LP and TPG Capital, and strategic rivals, are lining up potential bids for AsiaInfo-Linkage, sources with direct knowledge of the matter told Reuters in February. A deal could be worth more than $1 billion.