PE Week Wire — 10/25/06

The Blackstone Group and PAI Partners have agreed to buy UK-based biscuits maker United Biscuits from Cinven and MidOcean Partners. The deal is valued at just over ₤1.6 billion, and gives United Biscuits an enterprise value of around ₤2.4 billion. Blackstone had been considered the leading bidder for several weeks, after a Premier Foods-led group dropped out.

VaxInnate Corp., a Cranbury, N.J.