If Societe Generale
to a private equity shop, it may mean a change in leadership as well.
Last week reports surfaced
that Clayton, Dubilier & Rice
and other private equity shops were bidding for TCW
], and today Douglas Appell and Christine Williamson of Pensions & Investments report
that, according to an unnamed source, the deal would lead to CEO Marc Stern
stepping down and the ex-MetWest triumvirate of David Lippman
, Tad Rivelle
and Laird Landmann
"Leadership of TCW going forward definitely will be by a party of three," the source reportedly said.
The trade pub also named three P.E. bidders: Warburg Pincus
and the Carlyle Group
, as well as CDR. Yet one source told P&I
that CDR and Warburg Pincus "no longer appear to be actively negotiating."
put the price tag for the deal at between $600 million and $800 million.
Neil Anderson, Managing Editor
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