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Blackstone, BC Partners to Submit Joint Bid for Iglo

-- Blackstone, BC to team up in bid for Iglo -- Pair plan to put in joint bid later Thursday -- Buyout companies were previously rival bidders LONDON--Buyout companies Blackstone Group L.P. and BC Partners will submit a joint bid for Europe's largest frozen-food company, privately-owned Iglo, in time for a Thursday deadline, people familiar with the matter said. The two groups have decided to team up after earlier having been in competition to buy the company, which makes frozen food in the Captain Birds Eye range, such as staples like fish fingers and the Bake to Perfection food range. It's unclear if there are now any additional bidders for the asset. Permira bought Iglo from Unilever PLC (UL) for EUR1.7 billion in 2006, and in July 2010 recombined its Birds Eye unit with Unilever's other frozen-food business, Findus Italy, in a GBP675 million deal. Earlier this year, it hired Credit Suisse Group AG (CS) to advise on a sale of the business. At various points in the sale process other bidders have included Thai food conglomerate Charoen Pokphand PCL (CPF.TH), Clayton Dubilier & Rice Inc and Bain Capital LLC. Press reports have suggested that some banks balked at providing debt for the Iglo deal due to current credit market conditions in Europe, and that the offer from Blackstone and BC Partners is likely to come in below Permira's price expectations of between EUR2.5 billion and EUR2.6 billion. Permira declined to comment on the reports. A person familiar with the matter said that if the Blackstone and BC Partners offer isn't attractive enough, Permira will abandon the sale. -Write to jessica.hodgson@dowjones.com

Stock News for Ciber (CBR)
DateTimeHeadline
04/20/201507:29:00Current Report Filing (8-k)
04/20/201507:27:03Additional Proxy Soliciting Materials (definitive) (defa14a)
04/20/201507:00:00Ciber Nominates Mark Lewis as New Independent Director for 2015...
04/15/201517:28:23Ciber, Inc: Ciber to Release First Quarter 2015 Results on April...
04/14/201518:21:45Statement of Changes in Beneficial Ownership (4)
04/14/201518:21:18Statement of Changes in Beneficial Ownership (4)
04/09/201512:00:29North Central Texas Council of Governments Chooses Ciber to...
04/02/201517:29:10Statement of Beneficial Ownership (sc 13d)
04/02/201517:24:52Statement of Changes in Beneficial Ownership (4)
04/02/201517:24:52Statement of Changes in Beneficial Ownership (4)
04/02/201507:29:20Current Report Filing (8-k)
04/02/201507:27:09Additional Proxy Soliciting Materials (definitive) (defa14a)
04/01/201519:01:00Ciber Announces Plan to Enhance Board Composition by Adding Three...
03/13/201512:00:24Ciber, Inc: Ciber to Present Top Trends in Higher Education...
03/12/201517:40:44Statement of Changes in Beneficial Ownership (4)
03/12/201517:40:14Statement of Changes in Beneficial Ownership (4)
03/09/201518:26:22Statement of Changes in Beneficial Ownership (4)
03/09/201518:25:56Initial Statement of Beneficial Ownership (3)
03/05/201518:09:26Statement of Changes in Beneficial Ownership (4)
02/27/201518:42:05Additional Proxy Soliciting Materials - Non-management (definitive...

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