New Mountain Capital has ended discussions over a proposed transaction led by former executive Matt Holt to acquire five of the firm’s portfolio companies, scrapping what would have been a deal valued at about $32bn, according to a report by Bloomberg.
The firm reportedly informed investors in a letter that it declined to proceed with Holt’s proposal after reviewing several revised offers. The latest version of the deal would have generated more than $14bn of proceeds for New Mountain’s funds.
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