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Lone Star eyes defence firm deal

Lone Star Funds has held talks about acquiring Titan Acquisition Holdings from owners Carlyle Group Inc and Stellex Capital Management in a deal that could value the military contractor at about $2 billion, according to a report by Private Equity Insights.

Lone Star Funds has held talks about acquiring Titan Acquisition Holdings from owners Carlyle Group Inc and Stellex Capital Management in a deal that could value the military contractor at about $2 billion, according to a report by Private Equity Insights.

The report cites unnamed sources as revealing that Lone Star has also held discussions with lenders about raising finance for the acquisition.

The current owners have reportedly been working with an adviser to examine strategic options for Titan with a number of suitors, including Lone Star Funds, said to be interested. No agreement has yet been reached with any of the prospective purchasers and Carlyle and Stellex may yet opt to keep the business.

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