Orica becomes a private equity target

The Australian mining services company rejects a A$10 billion bid by Bain, Blackstone, PEP and Morgan Stanley.

Orica has become the latest target in AustraliaƆs leveraged buy-out blitz, with the company confirming that it has received a A$32.00 per share cash offer from a consortium that values the business at nearly A$10 billion $8.3 billion. The proposal has been rejected.

The non-binding and indicative proposal came from a group of four LBO firms including Bain Capital Partners, Blackstone Capital Partners, Pacific Equity Partners and Morgan Stanley Principal Investments. The cash...

To continue reading, please login or register for free

Click for more on: orica | bain capital | blackstone | pep | morgan stanley | lbo | ubs

Print Edition

FinanceAsia Print Edition

CONFERENCES