Talecris, a ludicrously large IPO, and the beginning of the end for private equity?
(UPDATED: See below.) Is the air starting to hiss out of the private-equity bubbble? Looking at Talecris Biotherapeutics, a stodgy biotech controlled by private-equity firms Cerberus Capital Management and Ampersand Ventures that filed to raise as much as $1 billion in an initial offering last Friday, you’d be perfectly justified in thinking so.
For starters, the IPO is just ridiculously huge. Biotech offerings that raise more than $100 million are fairly rare; this year, for instance, only three… Continue Reading