Term Sheet

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Let's not make a deal: Sun bails on GoldMax

August 2, 2012: 4:44 PM ET

FORTUNE -- In June I wrote that Sun Capital Partners had agreed to acquire Goldmax USA, a Chicago-based operator of over 200 retail locations for selling gold and other precious metals. There was an FTC filing and everything.

But sources familiar with the situation tell me that Sun has since called off the deal. Unfortunately, those same sources declined to explain why. And neither Sun nor GoldMax are talking.

Did Sun find something it didn't like at the very end of due diligence? Did the financing not come through? Door number three?

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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