Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Rules of Retirement Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Buyout firm eyes Northern Rock

Private equity firm J.C. Flowers has secured funding that could be used for a takeover, report says.

October 3 2007: 4:34 AM EDT

LONDON (CNNMoney.com) -- Private equity firm J.C. Flowers has secured about $30 billion of funding that could be used to buy U.K. lender Northern Rock, according to a published report.

The Financial Times said that J.C. Flowers is set to meet with Northern Rock's advisers and is interested in keeping the bank intact.

Citigroup (Charts, Fortune 500), which Northern Rock is set to hire as an adviser, is expected to provide a financing package for potential suitors, the report said.

Many bidders have expressed interest in buying Northern Rock, but most of them have given up on pursuing a bid, it added.

The UK government had to bail out Northern Rock after it nearly collapsed as a result of the global credit crunch.

Toll mounts as more LBOs crater

SAVE | EMAIL | PRINT |

| REPRINT

More World Biz

China revises 2008 GDP higher

Toyota faces expulsion from Venezuela

How to sue Microsoft - and win

The Hot List

100 best places to start a business

Diesel: The truck stops here

'You're working for gas now'

Sponsors

Home Portfolio Calculators Contact Us Newsletters Podcasts RSS Mobile Widgets Site Map User Preferences Advertise with Us
Magazine Customer Service Download Fortune Lists Reprints Career Opportunities Special Sections Conferences Business Leader Council

Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer

Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.