SBD/February 22, 2013/Finance

Latest AEG Bids Reportedly Less Than $7B, At Low End Of Anschutz' Asking Price

The latest bids for AEG are "coming in at the low end of the expected price range and well below the company’s lofty asking price," according to Claire Atkinson of the N.Y. POST. AEG Chair Philip Anschutz "expected to fetch" $6-8B. But sources said that "at least two suitors that made it to the second round of the auction -- Guggenheim Partners and Qatar Sports Investment, in a partnership with Tom Barrack’s Colony Capital -- offered less than" $7B. A source said, "There were two bids." The source also predicted Anschutz "will walk if he doesn't get his price." An AEG and Blackstone Advisory Group rep said that the bidding is "proceeding as planned" (N.Y. POST, 2/22).
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