Major Upcoming Deal May Be 'Diamond in the Rough' for KKR ((KKR) (RIO) (BHP)
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Shares of BHP Billiton (NYSE: BHP) and Rio Tinto (NYSE: RIO) are both indicated higher Monday morning amid reports private equity firm Kohlberg Kravis Roberts & Co. (NYSE: KKR) may be fixing to buy-then-merge the diamond businesses of the two miners.
The London Sunday Times reported KKR might be looking to go up against diamond giants De Beers and Alrosa.
The combination of the two would give KKR about 15 percent of the world's total diamond supply. Total proposed cost of a transaction was not disclosed.
KKR shares are bid slightly lower early Monday.
The London Sunday Times reported KKR might be looking to go up against diamond giants De Beers and Alrosa.
The combination of the two would give KKR about 15 percent of the world's total diamond supply. Total proposed cost of a transaction was not disclosed.
KKR shares are bid slightly lower early Monday.
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