Finance / Australia
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Bear Stearns Invests Down Under
February 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Bear Stearns Private Equity (BSPE) has agreed to purchase Australia's Macquarie Private Capital Group (MPG), a Macquarie Group entity. BSPE will pay AUD$1.06 per security in cash, valuing the company at AUD$116 million ($105 million). The offer, which was at a 56% premium to MPG's last closing price, has had a good reception from top shareholders, including Argo Investments and Macquarie Select Opportunities Trust.