Carlyle Gets Coates

Coates Hire Ltd. (AX: COA), an Australian equipment rental company, has accepted a Au$1.7 billion buyout offer from The Carlyle Group and National Hire Group Ltd. (AX: NHR). The Au$6.59 per share offer represents Carlyle and National Hire's third bid for Coates, and would rise to Au$6.70 per share once a final dividend is included.