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Goldman Sachs Group Inc (GS) Financial News - UPDATE 1-Bain no longer pursuing Kinetic Concepts- report

Goldman Sachs Group Inc (GS)

UPDATE 1-Bain no longer pursuing Kinetic Concepts- report

Quote: In July, Apax had agreed to acquire Kinetic, giving the company 40 days to seek superior offers. Bain faced difficulties in raising financing for the deal, Bloomberg said, citing a person with knowledge of the matter. Disagreement over the price was also an issue for Bain dropping out of the talks, Bloomberg said, citing another unnamed person. Earlier in the day, Bloomberg had reported that the two buyout firms were looking for financing for a deal, with an offer possible as early as next week. The firms could drop the bid plans if they were unable to obtain financing at attractive rates, the report had said. Avista and Bain were not available to comment. Goldman Sachs Group Inc (GS.N), Deutsche Bank AG (DBKGn.DE), Citigroup Inc (C.N) and Jefferies Group Inc (JEF.N) were in talks to arrange the financing for the deal, the report had said.Kinetic Concepts could not be immediately reached for comment.(Reporting by Saqib Iqbal Ahmed in Bangalore and Jessica Hall in Philadelphia, additional reporting by Megan Davies in New York; Editing by Gary Hill, Bernard Orr)(For more M&A news and our DealZone blog, go to here)...
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