Kentucky-Arkansas Hoops Set For CBS MLS Set For Three Days Of CBA Talks NFL Hires Chief Republican Lobbyist Hisense To Invest More In NASCAR Earthquakes To Debut New Stadium MLBAM Launches MLB At Bat Update Classified Advertisements Ovechkin Signs With Fanatics Authentic Weekend Plans With NBC's Jim Bell Fresno State Gets Fresh Start With Bartko
SBD/May 7, 2013/FinancePrint All
IMG this year "drew an unsolicited bid" of more than $2B from California private equity firm Colony Capital, according to sources cited by Gelles, Edgecliffe-Johnson & Garrahan of the FINANCIAL TIMES. Colony's bid was "dismissed because Forstmann Little plans to run an auction so as to obtain the highest price for IMG." The Colony offer was "made in co-operation with funds linked to the Qatari royal family." Colony Founder, Chair & CEO Tom Barrack "worked with the Qataris on a bid for AEG." Private equity firm Silver Lake Partners and talent agency William Morris Endeavor are "thought likely to participate in the auction, as is a similar group comprising private equity firm TPG and talent agency Creative Artists Agency." Meanwhile, Former Yahoo Chair & CEO Terry Semel is "said to be prepared to bid this time." Reliance Chair & CEO Mukesh Ambani, "India’s richest man, is also said to be watching the process closely." His group "has a joint venture with IMG and he was close" to the late Theodore Forstmann. Other "potential bidders" include Guggenheim Partners and Penguins co-Owner Ron Burkle (FINANCIAL TIMES, 5/7).