takeover target

Beleaguered Australian-listed investment banking and infrastructure funds groupBabcock & Brown (B&B) may be attracting interest from predators. Amongthe rumours is one that has US-based private equity firm Kohlberg Kravis &Roberts looking to obtain a major stake in B&B, which would also give itcontrol over how the business operates. Another potential investor or buyer isAustralian rival Macquarie Group. B&B has become a target after its shareprice and those of its satellite funds declined, triggering urgent talks on itsdebt situation with bank lenders as well as asset sales. On 23 June 2008 theparent's stock closed $A0.35 lower at $A6.07