TPG plucks chicken deal
TPG nearly missed out on acquiring Inghams Enterprises. When the Bob Ingham, the 81-year-old owner of Australia's top chicken producer, put the company on the block for A$1.5 billion ($1.5 billion) last July, the private equity firm came in with an offer of A$900 million. At the time, The Blackstone Group, clearly thinking the company was worth more, was said to have placed a bid of around A$1.1 billion, knocking TPG out of the running.
By December, however, Blackstone, realizing it was one of the only bidders left, decided to lower its offer price, prompting Inghams to suspend the bidding process over the New Year. In January, the...
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