In the near-termmoreprivate-equity firms will take minoritystakes ineach other's companies, says Michael Magliana ofMoelis & Company, an investmentbank.
The company received a minorityinvestment offer from three private equity players, but decided not to accept it as it judged the cost of investment to be excessive for shareholders and also dilutive in nature.
The indisputable fact that the investment is a minorityequity position that would grant Anshan absolutely no control was conveniently left out of the letter sent to Secretary Geithner.