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Reported Cadence private-equity buyout hangs

Posted: 21 Jun 2007 ?? ?Print Version ?Bookmark and Share

Keywords:private equity sale? Cadence buyout? chip design software?

Price wrangling between two private equity firms has suspended talks of a possible buyout of Cadence Design Systems Inc., Reuters reported. The development sent Cadence stock tumbling $1.08, or nearly five percent, to $22.22 in heavy trading Monday.

Earlier this month, The New York Times broke out news of Kohlberg Kravis Roberts (KKR) and the Blackstone Group expressing interest in purchasing the chip design software maker.

In a follow-up citing unnamed sources close to the deal, the paper reported that it now appears Cadence's expected $6.5 billion price tag may be too steep for the two firms.

Reuters said KKR, Blackstone and Cadence had no immediate comment on the matter.

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