Private equity firms Carlyle Group LP and KKR & Co LP have emerged as the lead contenders to take over Reynolds and Reynolds, a software company hoping to sell itself for $5 billion, three people familiar with the matter said. Dayton, Ohio-based Reynolds, which provides business management software for auto dealers in North America and Europe, had hired technology-focused investment bank Qatalyst Partners to run a sale, people familiar with the matter told Reuters in October.The process has progressed and is now in its final stages, though no decision is expected before January, the sources said.Reynolds may be sold to Carlyle or KKR for between $4 billion and $5 billion, less than the company had hoped, one of the people added.The people spoke on condition of anonymity because the negotiations are confidential. Spokesmen for Reynolds, Carlyle and KKR declined to comment.
Shares of CG fell by 0.23% or $-0.06/share to $26.12. In the past year, the shares have traded as low as $20.00 and as high as $27.90. On average, 87166 shares of CG exchange hands on a given day and today's volume is recorded at 790.
Source
