Reuters: Private Equity: Suitors eye higher bid for food group Iglo-sources

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Suitors eye higher bid for food group Iglo-sources Jun 25th 2012, 14:02 By Simon Meads LONDON, June 25 | Mon Jun 25, 2012 10:02am EDT LONDON, June 25 (Reuters) - Private equity groups Blackstone and BC Partners are working on a higher offer after rival Permira rejected their 2.5 billion euro ($3.1 billion) bid for frozen foods maker Iglo Group as too low, people familiar with the situation said. Blackstone and BC Partners, the last two bidders in the hunt for the Birds Eye Fish Fingers maker, teamed up last week to table a final bid for the company. But seller Permira rejected their offer as too low, people familiar with the sale process said. The firm is now considering tapping financing markets to pay itself a dividend, those people added.

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