Diamond Foods (DMND) shareholders have had a wild ride in recent months, as the firm has been rocked by accounting irregularities that took down both its CEO and CFO.
However, today sources close to the situation say Diamond has approached several private equity firms, including KKR (KKR) to purchase a minority stake in the company as it attempts to firm up its balance sheet.
The company is looking for cash to shore up borrowing agreements as it sets about restating two years of earnings. Separately, Diamond said today that it had reached an agreement for a revolving credit line that would none the less carry higher interest rates and force it to suspend its dividend.
The shares were halted, but are now trading again, recently falling�1.5%.
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