Investor groups Blackstone and Carlyle could join forces on a massive $25 billion bid for Novartis AG's unit (NYSE:NVS) Sandoz, Bloomberg reports, citing people close to the matter.
- The publication said that the private equity firms are discussing a potential joint offer for the Novartis unit.
- Separately, Advent International, Hellman & Friedman, and KKR & Co. are sizing up their approaches, Bloomberg's sources said.
- Sandoz is a sizable target, and some private equity funds could partner to bid.
- Swedish firm EQT AB has been working with the Struengmann family, who previously sold their generic pharmaceutical business to Novartis, as it studies an offer for Sandoz.
- But it's early yet, and the suitors may decide against teaming up or proceeding with bids altogether, Bloomberg said.
- Related: Novartis May Have Buyer(s) For Its Sandoz Unit - Report.
- The interest in Sandoz comes as Novartis takes a magnifying lens to the business. Novartis launched a strategic review of its generics arm in October. The Company said it would provide an update by the end of 2022.
- Price Action: NVS shares are up 1.16% at $87.92 during the market session on the last check Tuesday.
