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Wednesday, July 9, 2014

KKR plans bid with Australia's PEP for SAI Global - media, (NYSE: KKR)

Global investment company Kohlberg Kravis Roberts & Co LP has joined with Pacific Equity Partners (PEP) to ready a joint bid for compliance company SAI Global, Australian media reported on Thursday. The two companies are said to be preparing an offer for the standards, assurance and information business, with a bid expected by the July 15 deadline, the Australian Financial Review said.PEP launched a A$1.1 billion ($1.0 billion) non-binding proposal for SAI in May, but the compliance company said other possible buyers had contacted it and decided to publish information about its business for all those interested.Reuters reported in late June that at least two other parties were interested in acquiring PEP.KKR has earmarked expansion in Australia, although a A$2.90 billion takeover offer for Treasury Wine Estates rejected in May.

KKR & Co. L.P. (KKR) is a global investment company. Shares of KKR traded higher by 1.18% or $0.29/share to $24.85. In the past year, the shares have traded as low as $18.74 and as high as $26.50. On average, 2714140 shares of KKR exchange hands on a given day and today's volume is recorded at 3159387.