Investment firm Mantle Ridge LP is weighing an offer to buy food services company Aramark, Reuters reported May 31, citing people familiar with the matter.
Mantle Ridge reportedly is considering forming a consortium with private equity firms and sovereign wealth funds for the bid.
The New York-based asset manager, which plans to urge Philadelphia's Aramark to explore a sale, also held preliminary talks with banks to raise debt financing for the offer, the report said.
According to S&P Global Market Intelligence data, Aramark has a market capitalization of $8.57 billion and its total debt as of the fiscal year ended Sept. 28, 2018, totaled $7.24 billion.
It is unclear how much capital Mantle Ridge will put in the bid, Reuters said. However, the report added that there is no certainty that a deal could be reached.
Mantle Ridge and Aramark did not immediately respond to S&P Global Market Intelligence's requests for comment.