Toys R Us suitors narrow to two

  • Business
  • Thursday, 17 Mar 2005

PHILADELPHIA: The line-up of contenders for retailer Toys R Us Inc has narrowed to two suitors that offered to buy both the struggling toy store chain and the Babies R Us unit for more than US$5.7bil, sources familiar with the situation said. 

Buyout firm Kohlberg Kravis Roberts & Co and an investment group led by Cerberus Capital had submitted bids for the entire company, rather than just the toy store chain, which was put up for sale last year, the sources said. 

The retailer had planned to keep its faster growing Babies R Us unit, which sells infant clothes, linens and furniture, but the last-minute takeover offers for the entire company were too lucrative to ignore, a source said. 

Toys R Us, according sources, is scheduled to have a board meeting later this week to review the offers. – Reuters  

Latest business news from AP-Wire

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Ringgit extends gains on US$ as risk appetite grows
Quick take: Inari continues to climb higher
Quick take: Yinson shares up on improved earnings
FBM KLCI to extend bargain-hunting activities
Hock Seng Lee continues to face business disruption
S&P Global Ratings: Downside risks rising for Malaysian banks
Trading ideas: PMC, AirAsia, DNeX, KPower, Yinson
CDC advisers back COVID-19 booster shots for those 65 and older, not for high-risk workers
Vietnam probes allegations of tax-avoidance on Thai sugar imports
Alcoa powers up in Brazil as China aluminium powers down

Stories You'll Enjoy