Blackstone eyes Southern Cross

Private equity firm Blackstone is considering a takeover bid of Southern Cross. The British care home operator said last week it was in early-stage talks with other potential buyers after private equity firm Towerbrook Capital announced it was no longer interested in making an offer. Blackstone owned Southern Cross before listing it in 2006 and is reportedly now keen on launching a takeover of the listed operating company and its property company, with a view to combining them. Blackstone and Southern Cross could not be reached for comment yesterday.