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.
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