| NEW YORK, July 8
NEW YORK, July 8 TPG Capital LP is one of the
final bidders for MacDon Industries Ltd, a manufacturer of
agricultural machinery looking to sell itself for around $1
billion, three people familiar with the matter said on Monday.
The private equity firm is working on making a binding bid
for MacDon by the mid-July deadline for final offers, the people
said, asking not to be identified because the sale process is
Other parties, including buyout firm Berkshire Partners LLC
and an industry player, have also been evaluating potential bids
for MacDon, although it remains uncertain whether a competing
offer will materialize, some of the people added.
Representatives for MacDon, TPG and Berkshire Partners did
not respond to requests for comment.
Reuters reported in April that Winnipeg, Manitoba-based
MacDon has enlisted Goldman Sachs Group Inc to find a buyer. The
company makes machinery used to harvest various agricultural
products such as cereal grains, oilseeds, rice and soybeans.
It began in 1949 as Killbery Industries Ltd, a manufacturer
of agricultural equipment, including sprayers, grain augers,
disc seeders, cultivators and manure spreaders. It was renamed
MacDon following the company's acquisition by the MacDonald
family in 1971, according to its website.