NEW YORK, Oct 9 (Reuters Breakingviews) - When courting buyers, sellers like to make it seem as if there are plenty of options.
So it is with buyout firms GTCR and Apax Partners as they explore ways to cash in on AssuredPartners, the insurance broker they own together.
This parallel process, colloquially called a dual track, can build competitive tension to wheedle a higher price, but it’s too soon for the idea to pose a plausible threat.
For example, cybersecurity provider AppDynamics was planning an IPO that would have valued it at around $2 billion in late 2016.
Reuters Graphics Reuters GraphicsHigher interest rates have made it harder to borrow and for buyers and sellers to agree on valuations.
Persons:
it’s, AppDynamics, Apax, AssuredPartners, GTCR, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav
Organizations:
Reuters, Apax Partners, Cisco Systems, Bloomberg, Reuters Graphics, Cisco, SoftBank, Thomson
Locations:
AssuredPartners