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Wayne, N.J., Two investment groups have each bid more than $5.5 billion for all of Toys “R” Us Inc., according to published reports. The Toys “R” Us board will meet today to discuss offers from buyout-specialist Kohlberg Kravis Roberts & Co., and an investment group led by Cerberus Capital Management LP. The company will also consider previous bids for the toy chain, according to the report. The Wayne, N.J.-based toy retailer has been considering separating its toys and babies units, citing competition from discount chains such as Wal-Mart, which is the nation’s biggest toy seller.
The report identified the other bidders for the chain to be a combination of Bain Capital LLC and Vornado Realty Trust, and an alliance of Apollo Advisors LP and Permira Advisors Ltd.