GO
Loading...

Breaking News from CNBC's Kate Kelly: KKR Unlikely to Buy Crocs, but Blackstone Still in Talks - Sources

WHEN: Today, Wednesday, November 13th

WHERE: CNBC's "Power Lunch"

Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. Following is a link to the video from CNBC.com: http://video.cnbc.com/gallery/?video=3000217861.

All references must be sourced to CNBC.

KATE KELLY: WE HAVE BREAKING NEWS ON CROCS, THE POPULAR SHOE MAKER. APPARENTLY THEY ARE UNDERWAY WITH DISCUSSIONS WITH AT LEAST A COUPLE OF PRIVATE EQUITY FIRMS ABOUT A POSSIBLE LEVERAGED BUYOUT OF PRIVATIZATION OF THE COMPANY NOW WORTH A LITTLE MORE THAN A BILLION DOLLARS IN MARKET CAP. THESE TALKS I'M TOLD HAVE BEEN GOING ON FOR ABOUT TWO MONTHS AND PARTIES THAT HAVE BEEN IN DISCUSSIONS WITH THEM INCLUDE KKR AND BLACKSTONE – TWO OF THE BIG PLAYERS. I'M TOLD THAT KKR IS MORE THAN LIKELY OUT OF THE GAME AT THIS POINT, ALTHOUGH BLACKSTONE IS STILL CONSIDERING THE POSSIBILITY OF A DEAL. HOWEVER, TALKS I'M TOLD ARE FIZZLING A LITTLE BIT IN GENERAL. SO, IT IS NOT CLEAR WHETHER THINGS WILL COME TOGETHER OR NOT, BUT THE STOCK HAS CLEARLY BEEN REACTING VERY, VERY WELL TO THIS NEWS TODAY. UP BY DOUBLE DIGITS AT ONE POINT EARLIER, NOW A LITTLE BIT OFF THOSE HIGHS, BUT STILL, VERY STRONG, TYLER. SO THAT IS ONE THAT WE WILL CONTINUE WATCHING FOR YOU.

About CNBC:

With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.

CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/