Avista Capital Partners and Cinven are among four private equity firms bidding for Thomson Reuters Corp's (TRI.N) trade and risk management software business, Kondor, people close to the matter said. Buyout shops Bridgepoint and Montagu have also advanced to the second round of the auction of Kondor, which could fetch between $600 million and $650 million, they said. That range is higher than previous media reports, which had pegged Kondor's value at about $500 million. Thomson Reuters hired Barclays Capital (BARC.L) to sell Kondor and kicked off the process in June. A number of corporate buyers initially expressed interest, but had dropped out by the second-round bids, which were due on July 22.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world's businesses and professionals. Shares of TRI fell by 2.66% or $-0.91/share to $33.32. In the past year, the shares have traded as low as $33.64 and as high as $42.15. On average, 755833 shares of TRI exchange hands on a given day and today's volume is recorded at 1463187.
