Return To La Liga A Boost For Alavés MLS Outspending Serie A, Study Finds Sports Direct Facing Rough Waters CONCACAF To Approve '15 Financials Smaller Chinese Clubs Focus On Own Talent Entities Share Address With Banned Firms London Welsh Seeking Liquidation CPL Provides Economic Boost To Hosts Brazil's Go4it Invests In Keemotion WTF Refugee Academies To Get $600K
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/May 6, 2013/Finance
Morgan Stanley, Evercore Among Companies Involved In Potential $2B Deal
Published May 6, 2013
Equity firm Forstmann Little & Co. is working with Morgan Stanley and Evercore Partners Inc. "to find a buyer" for talent agency IMG Worldwide Inc., according to Saitto, Soshnick & Fixmer of BLOOMBERG. Two people, who asked not to be named because the process is private, said that the business could fetch $2B. Non-disclosure agreements “will probably go out to suitors in a couple of weeks, with first-round bids likely due in July," said another person. A representative at Morgan Stanley declined to comment. Representatives at Forstmann Little and Evercore did not immediately return calls seeking comment. Inner Circle Sports’ Rob Tilliss said that “possible suitors may include Guggenheim Partners,” owner of the MLB L.A. Dodgers; Silver Lake Management LLC, which has a stake in William Morris Endeavor Entertainment LLC; and Creative Artists Agency, which is part owned by private-equity firm TPG Capital (BLOOMBERG, 5/2).