New York Times – Reddy Ice Holdings, a producer of packaged ice, said Wednesday that it was in talks to revise a $1.1 billion deal to be bought by a hedge fund, GSO Capital Partners.
The deal was called into question in September when Morgan Stanley, which had agreed to provide about $700 million of debt financing, said it might withdraw. In October, Reddy Ice posted lower-than-expected third-quarter results.
Reddy Ice said it held talks with GSO Capital on Friday regarding the deal and ”conceptual discussions regarding a modified transaction.” No decisions have been reached and talks continue, Reddy Ice said.
