* PEP proposed to buy SAI for A$1.1 bln
* SAI publishes information for rival bidders
* PEP considering future of proposal because it relied on
(Edits headline, adds details on alternative bidders paragraph
By Byron Kaye
SYDNEY, June 2 Australian buyout firm Pacific
Equity Partners is considering the future of a A$1.1 billion
($1.02 billion) takeover proposal for compliance company SAI
Global Ltd after the target said it would publish
information for other potential buyers, a source told Reuters.
The move from SAI, which last week terminated its chief
executive officer's contract four months into the job, could put
an early stop to what was shaping up as a bidding war for the
struggling industry compliance company.
On May 26, SAI and PEP confirmed the private equity firm
made the non-binding proposal. SAI said it was open to engaging
with PEP with a view to forming a binding offer it could
recommend to shareholders.
But on Monday, SAI said in a statement to the Australian
Securities Exchange that "a number of parties" have since
expressed "interest in SAI and its businesses" and it would set
up an online data room to be made available to all parties
involved in a possible sale.
SAI did not give any details about the alternative bidders.
PEP is now considering whether to proceed with its proposal
because it made it on condition that it got exclusive access to
conduct due diligence on SAI, said the source who was familiar
with the deal process but not authorised to comment publicly.
SAI Executive Chairman Andrew Dutton could not immediately
be contacted. PEP declined comment.
SAI shares closed 1.76 percent higher at A$5.20, in the
buying range being offered by PEP of A$5.10 to A$5.25 per share.
($1 = 1.0745 Australian Dollars)
(Reporting by Byron Kaye; Editing by Christopher Cushing and