KKR Gatecrashes £1.1bn Cannes Lions Auction

The US buyout titan KKR has gatecrashed the £1bn-plus auction of Top Right Group, the owner of the annual Cannes Lions advertising festival. Sky News has learnt that KKR has in recent days tabled an offer for Top Right Group (TRG) to rival a proposal submitted by its fierce competitor Blackstone. The entrance of KKR, which has owned prominent UK companies such as Boots and Pets at Home, will give TRG's owners - Apax Partners and Guardian Media Group - another alternative to a stock market