date:Aug 12, 2014
ch requested anonymity. [ID:nL4N0QA2RU]
The buyout firm behind the second proposal for a firm that expects massive writedowns from problems in U.S. and China operations was TPG, a source with direct knowledge of the matter told Reuters. Treasury declined to comment further on the second bidder's identity but said it was opening its books to both suitors for due diligence.
By lodging an offer that matches KKR's, TPG ensures it gets a first-hand look at the confidential financial details of the