PE Week Wire — 9/6/06

Coles Myer Ltd., Australia's second-largest retailer, has rejected a Au$17 billion buyout offer led by KKR, saying that the Au$14.50 per share price was “far too cheap.” Other members of the buyout consortium included Bain Capital, Blackstone Group, Carlyle Group, CVC Capital Partners, Macquarie Bank, Merrill Lynch, Texas Pacific Group and Pacific Equity Partners. The deal would have been the largest-ever buyout of an Australian company. www.colesmyer.com

Sybase Inc. (NYSE: SY) has agreed to acquire Mobile 365 Inc., a Chantilly, Va.