Perry Suspends Presidential Bid, Backs Gingrich

Texas Governor Rick Perry suspended his campaign for the Republican presidential nomination and endorsed former House Speaker Newt Gingrich.

“There is no viable path forward for me in this 2012 campaign,” Perry said. “I believe Newt is a visionary conservative who can transform our country.”

Perry, who has lagged below 10 percent in public opinion polls since the New Hampshire primary, made his announcement in South Carolina, site of the next primary election Jan. 21.

Backing Gingrich, Perry said Republicans need to replace President Barack Obama “with a conservative leader who will bring about real change.”

To contact the reporter on this story: John McCormick in Chicago at jmccormick16@bloomberg.net

To contact the editor responsible for this story: Bob Drummond at bdrummond@bloomberg.net

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