M&A

M&A

Cipla, JB Chemicals, Torrent lead the race for Rs.4,500-Cr buyout of Medley Pharma

Economic Times  

Cipla, KKR-owned JB Chemicals and Torrent Pharmaceuticals are in the final race for acquiring Medley Pharmaceuticals in a deal worth around INR 4,500 crore. Half a dozen bids were in for Medley, including bids from 2-3 private equity funds. However, the pharma majors are reported to have offered a higher price, in the range of INR 4,500 crore, with Cipla being the most aggressive, and have made the cut following the non-binding bid submissions. Kotak Mahindra Capital is advising Medley's promoters.