HONG KONG (Reuters) - Blackstone Group (BX.N) has dropped out of the bidding for Ingham Chickens as the asking price for Australia’s largest chicken producer was too high, the Wall Street Journal reported on Thursday citing sources.
Ingham, wholly owned by Bob Ingham, was seeking a valuation of around A$1.4 billion ($1.5 billion).
Investec had been appointed to run the sales process.
Blackstone and Investec were not available to comment.
Reporting by Stephen Aldred; Editing by Dan Lalor