GUS Rises on Speculation of $10.5 Bln Experian Offer
Feb. 6 (Bloomberg) -- Shares of GUS Plc, the U.K.'s second- largest retailer by market value, rose to their highest in at least 17 years on speculation of a possible 6 billion-pound ($10.5 billion) offer for its Experian credit information business.
The stock rose 18.5 pence, or 1.8 percent, to 1,068.5 pence at 10:40 a.m. in the U.K. capital, the highest since Bloomberg records started in 1989. The gain increased the London-based company's market value to about 9.2 billion pounds. The shares climbed 9.2 percent last year for a third straight annual gain.
According to a report in yesterday's Sunday Times, Kohlberg Kravis Roberts & Co. and Hellman & Friedman LLC are assembling a bid for Experian. The suitors aren't likely to make a bid for a few months and are seeking support from other buyout houses, the newspaper said, without saying where it obtained the information.
Experian, based in Nottingham, England, and California is best known for running credit checks on companies and individuals. In November, GUS Chief Executive John Peace said the unit would be sold or spun off ``at the right time'' from GUS's retail division including U.K. chains Argos and Homebase. Tesco Plc is Britain's largest retailer with a market value of 25.6 billion pounds.....for more of the story from Bloomberg