ISS Calls Off $8.5B Apax Deal

ISS Holding has ended talks on its acquisition by the U.K. private equity firm, Apax Partners.

ISS Holding has ended talks on its acquisition by the U.K. private equity firm, Apax Partners, The Wall Street Journal reports. The Danish privately-held cleaning group has called off the buyout talks and opted for an initial public offering (IPO). Goldman Sachs and Morgan Stanley, who were advising on the dual track process, are also mandated on the IPO. Apax Partners had entered an agreement in December 2010 to acquire ISS for a total of $8.5 billion.

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