PE Firms Said to Be Circling BankUnited (BKU), But Only if the Price is Right...

August 17, 2012 6:51 AM EDT
BankUnited (NYSE: BKU) could be headed higher Friday following reports it might be ripe for a takeover.

According to the NY Post, there are still private equity firms looking to acquire the beleaguered financial firm, which was acquired by a group of buyout firms in 2009. Offers have come in from such names as TD Group and BB&T.

The buyout price could be $25 per share, which would be a take under according to the $25.70 closing price on Thursday.

Notably, the two firms were mulling a purchase in January, but declined to pay the $30 per share wanted by BankUnited. The bank said it would be open to talks in the $27 to $29 price range.

One portion of the non-compete agreement the firms signed expired on August 8th.

Shares are indicated flat ahead of the opening bell Friday.

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