Things are moo-ving slowly at Synlait’s Dairyworks. Street Talk understands bids for the cheese manufacturer, put up for sale by Jarden New Zealand, were due last week.
Sources said private equity shops Adamantem Capital, Allegro Funds, Anchorage Capital Partners and CPE Capital put in offers. However, the indicative bids failed to meet the vendor’s price expectations.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
