Royals To Debut Craft Beer Bar Mariners Renew Deal With Ford Senators: Take World Cup Out Of Russia ABC Supply To Sponsor IndyCar Race Mizuno Launches Campaign Battle At Bristol Ticket Info Released Bucks' Downtown Arena Plan Gains Steam Manfred Defends Mets Ownership, Payroll ESPN.com Debuts New Site Redesign Spieth Stars In New AT&T Campaign
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).