tpg considers bid for pacific brands

http://www.reuters.com/article/2012/02/01/pacificbrands-idUSL4E8D17JO20120201

"Feb 2 (Reuters) - Private equity firm TPG Capital is in discussions with a syndicate of banks to fund a takeover bid for Australian underwear manufacturer Pacific Brands, the Australian Financial Review reported on Thursday without citing sources.

The report said the price and size of the loan were yet to be finalised in the early-stage talks.

TPG Capital has not told Pacific Brands of its intentions, with talks still in early stages, the paper said.

If TPG goes ahead with its plans, it will be the second buyout approach for Pacific Brands by a private equity firm. In January, KKR & Co made an approach, which the AFR had said could be worth $614 million.

However, at the time Pacific Brands said there was no certainty that discussions with KKR & Co would lead to any agreement."