PE Not The Worst When It Comes To Bid Withdrawals

Despite its bad reputation for backing out of deals, private equity has managed to avoid Thomson Reuters' list of the largest withdrawn M&A bids. It was released today in honor of the largest pulled bid of all time, BHP Billiton's $188 million offer for Rio Tinto. The entry level price for the list is $54 billion (a French deal), which means even BCE, at $46.8 billion, wouldn't have qualified had the consortia walked away. So in a quasi-PR win, PE gets a pass today. Baby steps. For posterity's sake, thus far in Q4, the US has had $362 billion in deal announcements and $322 billion in cancellations, according to Thomson Reuters. That looks pretty bad compared

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