KKR Withdraws Joint Beckman Coulter Bid

Kohlberg Kravis Roberts (KKR)has dropped out of a joint bid for U.S. lab-equipment maker, Beckman Coulter, Bloomberg reports. New York-based KKR had been part of a joint bid with California-based TPG Capital and Blackstone Group.

The next round of bids for California-based Beckman Coulter, which has a market value of around $5 billion, is due next month. Goldman Sachs has been appointed to manage the sale process for Beckman. Danaher and a second private equity group that includes Apollo Global Management and Carlyle Group are also interested in Beckman.

Click here for the story from Bloomberg.