Deals
CVC Capital Walks Away From Bid for Pallet-Maker Brambles
- Share jump, volatile environment hurt potential deal
- Deal would have marked big return to Australian scene for CVC
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CVC Capital Partners has walked away from a potential bid for Brambles Ltd., the Australian provider of pallets and crates for transporting goods around the world.
The private-equity firm told Brambles it “will not be putting forward a proposal nor seeking to conduct detailed due diligence at this time due to the current external market volatility,” Brambles said in a statement Tuesday, confirming an earlier Bloomberg News report.