American private equity firm Hellman & Friedman is reported to be preparing to £2bn bid for Auto Trader in the UK.
Apax acquired a 49.9% in AutoTrader in 2007 and bought the rest of the business from Guardian Media Group in a £619m deal in 2014, valuing the business at £1.75bn, including debt.
The Sunday Times reported that any move by Hellman & Friedman could scupper Apax’ planned £2bn listing of Auto Trader on the stock market.
However, San Francisco-based Hellman was reported to be confident it can move ahead with a takeover bid.
The American firm was reported to have hired advisers to put together a knockout offer.
Its preparations were said to be “very advanced” and it has already drawn up a business plan, insiders said
