Private equity firm Kohlberg & Co. has been offering its medical device contract manufacturer Phillips-Medisize Corp. for sale since mid-January, and according to a story in the Wall Street Journal (WSJ), the field has been narrowed down to two suitors. The deal, which is expected to close soon, could potentially turn into a bidding war between two other private equity firms, GTCR (Chicago) and Golden Gate Capital of San Francisco. Those in the know are reported to be pricing the company in the $800 million neighborhood.
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