MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 25, 2012 Did CDR and Warburg Drop Out of TCW's Auction? If Societe Generale sells TCW 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 [profile], 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." P&I put the price tag for the deal at between $600 million and $800 million. Printed from: MFWire.com/story.asp?s=40426 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |