Gretzky, Lemieux Part Of Separate Groups Interested In Bauer
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Gretzky Showing Interest In
Possible Acquisition Of Nike Bauer |
Coyotes Managing Partner and coach Wayne Gretzky and Penguins co-Owner Mario Lemieux "have surfaced as potentials partners" in separate groups interested in acquiring Nike Bauer, according to Brian Milner of the Toronto GLOBE & MAIL. Interested parties, including "major competitors, private equity firms and investor groups," yesterday filed letters of intent with Lazard, the bank handling the transaction, though the filings are "non-binding, involve no financial commitment and may not lead to a bid." The groups "will not get a closer look at [Nike Bauer's] financials and its prospects, which will determine whether they go ahead with offers." A source said, "There are groups that will have (former) players involved. That includes Mario and Wayne." Gretzky previously was an investor in a company "that purchased the Hespeler skates brand and he owns a stake in Therma Blade," a small manufacturer of heated blades. Both previous involvements were in the "promotion of the products rather than a cash investment." Sources said that Nike Bauer could sell for up to $250M, "well below" the $395M Nike paid to acquire the business in '95 (Toronto GLOBE & MAIL, 11/8).
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