Mitsubishi Chemical in Final Talks to Sell Pharmaceutical Unit to Bain Capital for $3.2 Billion
Investment firm Bain Capital is in talks to acquire Mitsubishi Tanabe Pharma, a unit of Japan's Mitsubishi Chemical Group, in a potential deal, according to people familiar with the matter.
The two companies are in the final stages of negotiations and the deal could be worth more than 500 billion yen, or about $3.2 billion.
Earlier, Nikkei reported that Mitsubishi Chemical had granted a U.S. investment fund the right of first refusal to acquire its pharmaceutical unit.
Meanwhile, Mitsubishi Chemical said in response to the Nikkei report that it had no announcement to make.
"We are constantly reviewing the ideal mix of all businesses across the group, including pharmaceuticals, and are considering all options, including divestitures, to drive reform," the company said in a statement.
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