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Bain Capital, Golden Gate pull ahead in $6.5bn BMC Software bidding

1 May 2013

software2_lrgA private equity pairing of Bain Capital and Golden Gate Capital is reportedly in pole position to pick up business technology specialist BMC Software in a $6.5bn deal.

The firms have pushed ahead of a rival consortium of KKR, TPG Capital and Thoma Bravo according to Reuters, which said the firms had made binding bids for the business on April 22.

It cited three people with knowledge of the matter as saying that offers came in at between $45 and $50 per share, with Bain and Golden Gate bidding the highest amount.

The bidders are likely to face challenges including a recent surge in BMC’s share price and options around its two units, mainframe and enterprise service management businesses.

Reuters said BMC was currently trading at 11.5 times its projected 12-month earnings, compared with an 11.1 times average for its peer group.

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