US: Private-equity firms "prepare bid" for Whole Foods Market
By: Petah Marian | 19 August 2011
Private-equity firm Kohlberg Kravis Roberts has remained coy on reports that it, and Bain Capital, may be preparing a bid for premium food retailer Whole Foods Market.
The two private-equity firms may make a cash offer at a substantial premium to the current stock price of around US$90 a share, according to a report citing unnamed sources in the UK's Daily Mail.
According to the reports, a potential deal would value Whole Foods at around US$6bn.
In late July, Whole Foods upped its full-year earnings target after third-quarter profits jumped 35% to US$88.5m.
It is forecasting diluted earnings per share to be US$1.91-1.92, up from its earlier forecast of $1.87-1.90.
Bain Capital has not yet responded to requests for comment.
It is forecasting diluted earnings per share to be US$1.91-1.92, up from its earlier forecast of $1.87-1.90.
Bain Capital has not yet responded to requests for comment.
Shares in the company were up 0.66% today to US$59.23 a share at 10:31 ET today.
