(Alliance News) - Roadside breakdown assistance provider AA PLC has attracted bid interest from two US-based private equity firms, the Times newspaper reported on Tuesday.
According to the newspaper, the suitors are thought to include Towerbrook Capital Partners and Warburg Pincus.
One of the bidders has potentially made an offer of 40 pence a share, equating to a market value of about GBP250 million, or about GBP2.9 billion including GBP2.6 billion of debt, the Times added.
Shares in AA closed at 25.00p each in London on Monday, valuing the company at GBP155.2 million.
https://www.thetimes.co.uk/article/aa-attracts-rival-private-equity-bids-w06l3wnrg
By Tapan Panchal; tapanpanchal@alliancenews.com
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