Carlyle Shelves Chemring Buyout Talks Without Making Bid

Law360, New York (November 7, 2012, 5:05 PM EST) -- Private equity giant Carlyle Group LP on Wednesday walked away from takeover talks with flagging military contractor Chemring Group PLC, bringing negotiations to an end after U.K. regulators had twice pushed back the firm’s deadline to make a bid.

The two had been working to hammer out terms since August, when Carlyle expressed preliminary interest in the U.K. company. Under the second extension, Carlyle would have had until Friday to name an offer price for Chemring.

But over the past few months, Chemring’s financial outlook has...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.