KKR & Co. (KKR) has dropped out of a bidding group for lab-equipment maker Beckman Coulter Inc. (BEC), Bloomberg News reported Friday, citing three people with knowledge of the matter.
The withdrawal leaves KKR's buyout peers TPG Capital and Blackstone Group LP (BX) needing to find additional financing or another investor for the next bidding round in early February, the sources said.
Industrial conglomerate Danaher Corp. (DHR) and a second-private equity group that includes Apollo Global Management LLC and Carlyle Group LP are also interested in Beckman, the people said.
A Danaher spokesman didn't return a call seeking comment, Bloomberg said, while representatives of Apollo and Carlyle declined to comment.
KKR exited the TPG-Blackstone consortium more than a week ago, citing concern that the price for Beckman might get too high, Bloomberg cited its sources as saying.
Full story at http://www.bloomberg.com/news/2011-01-28/kkr-said-to-drop-out-of-blackstone-tpg-bidding-group-for-beckman-coulter.html
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