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Friday, March 8, 2013

RPT-Blackstone, TPG in final bids for chicken firm -sources, (NYSE: BX)

U.S. private equity firms Blackstone Group LP and TPG Capital have placed separate final offers for Australia's largest poultry producer, Inghams Chicken, sources with direct knowledge of the matter told Reuters on Thursday.The bids could value the privately owned company at around A$800 million dollars ($821 million), two sources said.Ahead of Thursday's deadline, Blackstone and TPG both submitted final bids backed by bank financing, with Blackstone tapping funding from U.S. markets and TPG using a consortium of commercial banks, the sources added.It was not immediately known if other parties have submitted bids.

The Blackstone Group L.P. (Blackstone) is a United States-based company that is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.63% or $0.12/share to $19.05. In the past year, the shares have traded as low as $11.13 and as high as $19.69. On average, 4795430 shares of BX exchange hands on a given day and today's volume is recorded at 3811705.