Reuters: Private Equity: AsiaInfo scouts for more buyout offers

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AsiaInfo scouts for more buyout offers Mar 26th 2012, 12:36 March 26 | Mon Mar 26, 2012 8:36am EDT March 26 (Reuters) - China-based telecom software maker AsiaInfo-Linkage Inc, evaluating an offer from a CITIC Capital unit to take it private, said it will solicit similar proposals from others. AsiaInfo received an offer from Power Joy (Cayman) Ltd, a unit of CITIC Capital, in January to acquire all of its outstanding shares. Financial details of the offer were not disclosed. The company had formed a special committee of board to consider the offer and appointed Goldman Sachs as a special adviser. Global private equity firms, including KKR & Co LP and TPG Capital, and strategic rivals, are lining up potential bids for AsiaInfo-Linkage, sources with direct knowledge of the matter told Reuters in February. A deal could be worth more than $1 billion.

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