Update: Multiple Reports Say KKR Backs Off From Seagate Bid

While it isn’t clear if the potential Seagate (STX) buyout is actually dead, there are now widespread reports that Kohlberg Kravis Roberts is likely to drop out of the bidding.

• Reuters reports that KKR is likely to drop out of a group considering a bid; they cite Bain Capital and TPG Capital as other participants in the talks.
• Bloomberg likewise writes that KKR may drop out of the bidding; they add that TPG is leading the group considering a bid.
• The New York Times repeats the same information as the wire reports.
• The Wall Street Journal writes that TPG is “searching high and low for partners, including pension funds and sovereign wealth funds” to joint its planned bid.