New Bidder Favored For MTU?
The German business daily Handelsblatt reported that buyout firm Kohlberg Kravis Roberts is favored to buy MTU Friedrichshafen from DaimlerChrysler. U.S. private equity group Carlyle is no longer in the running to acquire MTU, the newpaper said, leaving Swedish rival EQT as the only other bidder apart from KKR with a fair chance of receiving the nod.
"Carlyle is not part of the smaller group of preferred bidders," a source familiar with the talks confirmed to Reuters. Carlyle declined to comment. Daimler said it has ceased negotiations with German industrial group MAN AG. That was later confirmed by MAN.
The sale if MTU is estimated to be worth upwards of $1.2 billion and is seen as a key part of Daimler's plans to finance its $1.1 billion job reduction program at its Mercedes Car Group division in