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PEP could be pushed to raise A$1.1bn SAI Global bid after sparking competing interest

26 Jun 2014

australia flagAustralian buyout firm Pacific Equity Partners (PEP) reportedly faces competition from at least two other businesses for SAI Global after sparking a bidding war with its recent A$1.1bn offer.

The indicative bid from PEP valued risk management specialist SAI at between A$5.10 and A$5.25 per share when it was submitted in May.

At least two mystery companies are now also considering bids according to Reuters, which cited a source working on the sale.

It said that interest could force PEP to raise its bid.

PEP is also reportedly set to raise A$954m through an IPO of cleaning and catering company Spotless Group.

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