Tuesday, March 29, 2011

A Little More Big Lots again...

We kind of have a clearer picture now of the bidding process for Big Lots (Ticker: BIG). There was an article from the dealReporter stating that the following private equity firms have teamed up to bid for Big Lots: TPG / Bain Capital, Leonard Green / CVC Capital Partners and Thomas H. Lee Partners. The second round bids (usually the final round bids) are due around April 20th. The bidding could get interesting with Goldman Sachs (Ticker: GS) looking at a sale price of 10.5 to 11X EBITA. I can see a possible deal by the end of April. I nibbled on some more Big Lots today at $42.90.

On a side note, the end is near for Genzyme (Ticker: GENZ). I tendered my shares today and it looks like the deal will close next week.


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