UK - Paragon and Blackstone in talks

Paragon's shares have fallen almost 90% in a year, but gained almost 50% after the takeover speculation became public. Paragon's profits in the six months to March 2008 fell 39% to £26.4m.

The news comes just weeks after TPG walked away from a planned £179m investment into Bradford & Bingley, which would have seen the buyout house take a 23% stake in the bank.

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