stock market value is just about right, two potential acquirers reportedly believe.
The bidders are preparing buyout proposals for the Spanish-language broadcasters that don't represent significant premiums to Univision's current market capitalization of $10.8 billion, according to newspaper and wire reports Wednesday. Univision hired financial advisers in February to explore a sale.
On Tuesday, Univision's stock closed at $35.40, up 20% since the start of the year.
A group of investors including private equity shops Texas Pacific, Thomas H. Lee, Madison Dearborn and Providence Equity, reportedly will offer about $35 a share for Univision. Another group comprising
, Bain Capital, Blackstone and KKR is on the verge of proffering a similar bid, reports said.
Carlyle Group dropped out of the latter group, according to the
When it announced the auction, Univision and its advisers had expected to see higher bids -- possibly in the $40-a-share range. The company, which operates television and radio stations, has an enviable position in the U.S. media market as one of the only operators that serves the Hispanic demographic. Still, the early optimism on price dissipated somewhat as volatility made bank and bond financing more expensive.