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Wednesday, October 10, 2012

Three Bidders Vie For Harbor's Parent

News summary by MFWire's editors

Reuters has just reported that Rabobank is considering three bids for Robeco, and AMG Inc. [profile] is one of them.

Reporters Simon Mead and Jessica Toonkel say that the two other bids are from a PE consortium made up of Advent International and CVC and the Japanese firm Orix.

AMG has bid in partnership with European PE firm Permira and "plans to split up the business" if they win the bid, write Mead and Toonkel.

Spokeswomen for both Robeco and AMG declined comment to MFWire.

The newswire reports that Robeco was initially valued at less than 2 billion euros, but an unnamed source now thinks that the price could reach 3 billion.

If AMG and Permira win the bid, Toonkel and Mead think that AMG could take Robeco's U.S. businesses, which include Harbor Capital Advisors and Robeco Investment Management, while Permira would adopt its European operations, like Corestone and SAM Sustainable Asset Management

Edited by: Chris Cumming

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