OSAKA, Japan - According to Bloomberg News, Daikin Industries Ltd. is in talks to buy Goodman Global from private equity firm Hellman & Friedman LLC in order to expand in the U.S. market.
Hellman & Friedman is reported to have rejected a bid of $3.6 billion from Daikin. Bloomberg News noted that discussions could still fall apart, and an agreement may not come until 2011.
Bloomberg reported that if the acquisition of Goodman, based in Houston, goes through, it would push Daikin past Carrier Corp. as the No. 1 air conditioning company in the world by revenue. Goodman was acquired by Hellman & Friedman in 2008 for approximately $2.7 billion.
Publication date: 12/20/2010
Daikin Reported to be in Talks to Buy Goodman
December 20, 2010