TPG Capital LP is one of the final bidders for MacDon Industries Ltd, a manufacturer of agricultural machinery looking to sell itself for around $1 billion, three people familiar with the matter said on Monday. The private equity firm is working on making a binding bid for MacDon by the mid-July deadline for final offers, the people said, asking not to be identified because the sale process is not public.Other parties, including takeover firm Berkshire Partners LLC and an industry player, have also been evaluating potential offers for MacDon, although it remains uncertain whether a competing offer will materialize, some of the people added.Representatives for MacDon, TPG and Berkshire Partners did not respond to requests for comment.Reuters reported in April that Winnipeg, Manitoba-based MacDon has enlisted Goldman Sachs Group Inc to find a buyer. The company makes machinery used to harvest various agricultural products such as cereal grains, oilseeds, rice and soybeans.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.37% or $0.57/share to $153.81. In the past year, the shares have traded as low as $91.15 and as high as $168.20. On average, 3790490 shares of GS exchange hands on a given day and today's volume is recorded at 2700264.
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