MacDon enlists Goldman to run $1 billion auction: sources
NEW YORK (Reuters) - MacDon Industries Ltd, one of North America's largest manufacturers of windrowers, is looking for a buyer in a deal that could fetch around $1 billion, four people familiar with the matter said on Wednesday.
The Canadian family-owned company, based in Winnipeg, Manitoba, makes machinery used to harvest various agricultural products such as cereal grains, oilseeds, rice and soybeans.
MacDon is being advised by Goldman Sachs Group (GS.N) on the auction that is at an early stage, and has drawn initial interest from private equity firms, two of the people said, asking not to be named because the matter is confidential.
MacDon began in 1949 as Killbery Industries Ltd, a manufacturer of agricultural equipment including sprayers, grain augers, discer seeders, cultivators and manure spreaders.
It was renamed MacDon following the company's acquisition by the MacDonald family in 1971, according to its website.
Representatives for MacDon did not respond to requests for comment. Goldman declined to comment.
(Reporting by Soyoung Kim and Greg Roumeliotis in New York; Editing by Bernard Orr)
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; snow heads East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Putin dissolves state news agency, tightens grip on Russia media