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US: Bidding for largest entertainment firm falls short, plans abandoned

By  |  March 14, 2013
US: Bidding for largest entertainment firm falls short, plans abandoned

Anschutz Entertainment Group has apparently backtracked. The company will not be sold, says a source, as it could not find a sufficient bid to reach the requested $8 billion. Three bidders were in the running to acquire the entertainment conglomerate. Qatar Sovereign Fund and Colony Capital offered $6 billion, while Guggenheim Partners offered about $5 billion, according to reports. AEG, the world’s largest entertainment, sports and venue conglomerate, has been up for grabs since last September. The news suggests that AEG may, in fact, stay in tact.

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