We’ll take the money but the price is not that generous say fund managers.
Bain Capital’s R25bn offer for Edcon is likely to be accepted by all shareholders said fund managers after the offer was announced earlier today.
In the biggest private-equity deal in SA so far, Bain Capital will pay R46 cash for each share, in its bid to acquire the fashion retailer’s entire share capital. If the offer succeeds, Edcon will be delisted from the JSE.
The transaction will be funded by a combination of long-term debt and equity and Barclays Plc and Absa Capital are providing the debt financing.
Read more at Moneyweb.co.za
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