Talks over GNC
Source: Agencies |
December 9, 2010, Thursday
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Print Edition
Print Edition
PRIVATE-EQUITY firm Blackstone Group is in talks to join a bid by China's Bright Food Group Co for US health-care products seller GNC Holdings Inc, a person who is familiar with the situation said yesterday.
Despite the talks, Blackstone's participation in the deal appeared unlikely to happen, the source said, who requested anonymity because of the sensitive nature of the talks.
News of Bright Food's bid for GNC first emerged earlier in the week, with sources saying talks were at an advanced stage and a deal could be announced within days.
Under the deal being discussed, Bright Food would purchase GNC for US$2.5 billion to US$3 billion.
Despite the talks, Blackstone's participation in the deal appeared unlikely to happen, the source said, who requested anonymity because of the sensitive nature of the talks.
News of Bright Food's bid for GNC first emerged earlier in the week, with sources saying talks were at an advanced stage and a deal could be announced within days.
Under the deal being discussed, Bright Food would purchase GNC for US$2.5 billion to US$3 billion.
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