Bank of America has landed the lead role to provide financing to Thomas H. Lee Partners to back the acquisition of Michael Foods for $1.05 billion. Bankers said it will now become a "dog and pony show" for who is going to partner up with B of A on the deal. "If I'm B of A then I don't want to partner with anyone, but its Tommy Lee's deal," said a banker, who noted the private equity firm will spread the roles to reward banks that bring the firm acquisition ideas. Officials at B of A declined comment and a spokeswoman for Thomas Lee would only confirm B of A is leading the debt after providing staple-on financing. The private-equity firm is buying Michael Foods from Vestar Capital Partners and Goldner Hawn Johnson and Morrison. A banker described the company as a pretty seasoned issuer. "It's a Vestar portfolio name and they have taken up leverage before," he said.
B of A Lands Michael Foods Financing