Archive for July 16th, 2010

Carlyle strikes $3.8 billion deal for NBTY
By Megan Davies and Shradhha Sharma

NEW YORK/BANGALORE (Reuters) – Carlyle Group CYL.UL struck a $3.8 billion deal on Thursday to buy U.S. nutritional supplements maker NBTY Inc (NTY.N), beating several other buyout firms to clinch one of the biggest private equity deals so far this year.

Carlyle’s $55.00 a share cash offer, unanimously approved by the board, is a 47 percent premium to NBTY’s Wednesday close and values the company at more than eight times its earnings.

Shares of NBTY jumped as much as 44 percent to their highest level in three years.

“There was an auction of several private equity firms and the board of directors took what they believed to be the best offer,” said CFO Harvey Kamil in an interview. “We are happy that shareholders are prospering from this transaction.”
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