Merck generic drug unit auction
Published February 8th, 2007
Germany’s Merck KGaA will auction its generic drugs business in March, the Hindustan Times reported, with the German drug major’s advisor for the deal, Bear Stearns, set to invite non-binding bids in the first week of the month.
India’s top drug firms, Ranbaxy Laboratories Ltd, Dr. Reddy’s Laboratories and Cipla Ltd are finalising advisors for the auction.
Analysts and investment banking sources said the value of the deal would be anywhere between 4.5-5.5 bln usd, with private equity firms Blackstone, Carlyle, Cinven, Permira and Texas-Pacific Group now said to be in talks with the Indian firms to jointly bid for Merck .
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