Market Chatter: Blackstone, KKR in Talks to Take Over Medallia From Thoma Bravo After Loan Default

MT Newswires Live04-25 02:11

Blackstone (BX), KKR (KKR), and Apollo Global Management (APO) are negotiating to take control of Medallia from Thoma Bravo, after the software maker defaulted on loans of about $3 billion, The Wall Street Journal reported Friday, citing people familiar with the matter.

Blackstone and KKR had marked the value of their Medallia loans at around 80 cents on the dollar in December, but have now reduced to 60 cents this month, the report added.

Blackstone, KKR, Apollo Global Management did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 121.92, Change: -0.41, Percent Change: -0.34

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