Five private equity groups are among the first-round bidders for Matalan, the privately owned UK discount clothing retailer that is being auctioned with an estimated price tag of about £1.5bn. TPG, Blackstone, Warburg Pincus and BC Partners have all submitted indicative bids. Advent International, US buy-out specialist and owner of discount retailer Poundland, has also bid. John Hargreaves, who owns 100% of Matalan with his family, took the chain private in an £817m deal in 2006.
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