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Tuesday, November 19, 2013

U.S. coupon processor Inmar on the block -sources, (NYSE: MS)

Private equity firm New Mountain Capital LLC is exploring a sale of Inmar Inc, a provider of coupon processing and logistics services to companies, seeking more than $600 million, according to three people familiar with the matter. An auction for Winston-Salem, North Carolina-based Inmar is being handled by Morgan Stanley and Wells Fargo & Co , the people said this week on condition of anonymity because the process is confidential.Inmar's earnings before interest, tax, depreciation and amortization are seen at between $60 million and $70 million and New Mountain is looking for more than 10 times that amount, the people said.They cautioned that New Mountain may decide not to sell due to a gap in valuation expectations with other private equity firms which have expressed an interest in Inmar.An Inmar spokeswoman declined to comment. Representatives for New Mountain, Morgan Stanley and Wells Fargo did not respond to requests for comment.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.03% or $0.01/share to $30.34. In the past year, the shares have traded as low as $16.15 and as high as $30.78. On average, 13204300 shares of MS exchange hands on a given day and today's volume is recorded at 10024174.