Deals
Carlyle, CVC, KKR Said to Bid for Onex's USI Insurance
- Initial bids said to value company at more than $4 billion
- Buyout firm bought USI in 2012 in $2.3 billion transaction
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Carlyle Group LP, CVC Capital Partners and KKR & Co. are among suitors that have made first-round bids for Onex Corp.’s USI Insurance Services, according to people familiar with the matter.
The initial offers value the Valhalla, New York-based insurer at more than $4 billion, said the people, who asked not to be identified because the details are private. The sale process may attract interest from other bidders as well, the people said. Toronto-based Onex is working with Bank of America Corp. to advise on the process, one of the people said.