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Oracle co-founder also interested in AEG
By CMU Editorial | Published on Friday 12 October 2012
Larry Ellison, co-founder of IT giant Oracle and America’s third richest man, is also interested in buying AEG, according to Reuters.
As previously reported, in addition to possible bidders for the Anschutz live entertainment business from corporates and finance houses, at least one other billionaire, LA-based surgeon and biotech entrepreneur Patrick Soon-Shiong, is thought to be considering leading a bid, though Ellison’s personal wealth is substantially more than Soon-Shiong’s $7 billion fortune, even if a sizable chunk of it is tied up in Oracle stock.
Like Soon-Shiong, Ellison is seemingly most interested in AEG’s sporting interests, though both billionaires might involve others in any bidding consortium from the real estate and live entertainment side of things, given Anschutz’s seeming ambition to sell the company to one buyer who will keep the various AEG divisions intact as one business. In reality that condition makes a corporate or equity-led bid more likely to succeed, though Soon-Shiong and Ellison could both form alliances with such bidders.
As previously reported, Anschutz announced its intent to sell AEG last month, and began circulating a basic prospectus about the business this week. It’s thought the Anschutz company, and its owner, Philip Anschutz, are looking for bids of “high single digit, low double digit” billions.
