What do KKR and Silver Lake see in semiconductors
Kohlberg Kravis Roberts and Silver Lake Partners are apparently about to ink a deal to buy Philips Semiconductor from its Dutch parent company for more than $10 billion. To do so, they had to beat back two groups, one of which included Blackstone Group and Texas Pacific Group. The other included Apax Partners and Bain Capital, according to Business Week. Some analysts think the winners are overpaying. Even in a minefield-ridden industry, the firm seems poised to thrive, though some asset sales may be in the offing.
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