Anschutz Co. is seeking bids in the $10 billion range for its
sports-and-entertainment subsidiary Anschutz Entertainment Group as
the auction kicks off, Reuters news agency reported Tuesday on its
website, citing unnamed sources.
Bidders likely need to propose bids in the "high single digit,
low double digit" billion dollars before they can proceed to the
next round, the report cited the sources as saying, in a sign that
Anschutz has a higher price expectation than previously
believed.
Anschutz is likely to start signing non-disclosure agreements
and send out the books with financial details by the end of the
month, the report said.
Anschutz said in a statement it has "no comment on the sales
process beyond its press release announcing the sales process," the
report said.
Full Story:
http://www.reuters.com/article/2012/10/09/us-aeg-auction-idUSBRE89803I20121009
Subscribe to WSJ: http://online.wsj.com?mod=djnwires