China's Fosun rallies support for a joint bid for Bayer's animal health unit: report

As Bayer management predicted, it seems as though the German conglomerate’s for-sale animal health business has indeed attracted high interest. China’s Fosun International, parent of Fosun Pharma, is considering teaming up with private equity firms or other investors for a joint offer for Bayer’s animal health business, Bloomberg reported, citing people familiar with the matter. No formal bid has been made, deliberations are at an early stage and Fosun might still decide against it, the people said, according to the news service. The potentially €8 billion sale has reportedly attracted private equity firms KKR, CVC Capital Partners, Cinven, Advent International, BC Partners and Permira, among others, either as solo bidders or in joint pursuits. If successful, the takeover would mark another major deal for Fosun since it shelled out $1.1 billion for a 74% stake in India’s injectables-focused Gland Pharma in 2017. Outside of life sciences, the Chinese conglomerate in 2018 snapped up a majority stake in French legacy fashion house Lanvin, but that was a smaller acquisition financially.

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PR Newswire | January 03, 2024

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