More bidders emerge to challenge PEP for Australia's SAI Global-source
SYDNEY, June 26
SYDNEY, June 26 (Reuters) - At least two other companies are considering making a bid for Australian compliance company SAI Global Ltd after buyout firm Pacific Equity Partners (PEP) launched a A$1.1 billion ($1.03 billion) indicative offer, a source working on the sale told Reuters.
The source did not disclose the identities or exact number of the other potential bidders, but the arrival of other interested parties may mean PEP, Australia's largest private equity player, could be forced to raise its offer to buy the struggling former government standards body.
After PEP launched its non-binding proposal a month ago, SAI said other potential buyers had contacted it so it decided to publish information about its business for all interested potential buyers.
SAI began providing access to its information online this week and set a deadline of July 6 for interested parties to make offers, said another source.
Neither source could be identified because they were not authorised to comment on the deal until it is complete.
SAI shares were 1.61 percent higher at A$5.06 at 0319 GMT, below the buying range being offered by PEP of A$5.10 to A$5.25 per share.
($1 = 1.0639 Australian dollars) (Editing by Matt Driskill)
- Islamic State video purports to show beheading of UK hostage David Haines |
- North Korea sentences U.S. citizen Matthew Miller to six years hard labor |
- Scots independence battle reaches fever pitch on streets and screens |
- UK's Cameron resists calls for air strikes despite hostage killing |
- NATO countries have begun arms deliveries to Ukraine: defense minister |