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Report: Buyout firms preparing bids for CVC's Domestic & General

Several private equity firms are preparing to bid for CVC Capital Partners Ltd.'s Domestic & General Group Ltd. with the warranty provider also preparing for a possible IPO, Sky News reported.

Clayton Dubilier & Rice LLC, Onex Corp. and Warburg Pincus LLC are reportedly planning to submit their takeover offers ahead of an Oct. 19 deadline. Blackstone Group LP and Centerbridge Partners LP have also explored offers, but it was unclear whether they would submit formal proposals.

The offers could value the company at about £1.2 billion, Sky News said, citing unnamed sources.

CVC is seeking to price D&G at up to 13x its £99 million EBITDA, the report said.

The expected takeover bids come amid reports that CVC is also considering whether to take the warranty provider public.

In September, Sky News reported that CVC hired Rothschild to advise the buyout firm on an IPO.

D&G was taken private by Advent International Corp. in 2007, and was bought by CVC in a 2013 deal that reportedly valued the target at £750 million including debt.