Gundlach Says He Offered to Buy TCW in 2009

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Aug. 16 (Bloomberg) -- Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP, testified that in September 2009 he offered to buy TCW Group Inc., the asset-management company that fired him three months later. Gundlach, who started DoubleLine within weeks after TCW fired him in December 2009, told a Los Angeles jury yesterday that he offered about $350 million for 51 percent of the firm. He made the offer at a meeting with TCW Chief Executive Officer Marc Stern when he believed he was about to get fired, Gundlach said under questioning by TCW lawyer John Quinn. (Excerpts courtesy of Courtroom Connect. Source: Bloomberg)


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