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Warburg and Advent leading race to acquire Baxter’s €4bn biopharma unit

Warburg Pincus and Advent International are leading a private equity consortium which is in advanced discussions over the acquisition of medical device maker Baxter International Inc’s biopharma solutions business, in a deal that could be worth more than €4 billion, according to a report by the Financial Post.

Warburg Pincus and Advent International are leading a private equity consortium which is in advanced discussions over the acquisition of medical device maker Baxter International Inc’s biopharma solutions business, in a deal that could be worth more than €4 billion, according to a report by the Financial Post.

The report cites unnamed sources as revealing that Warburg Pincus and Advent have submitted the most attractive offer to Baxter in an auction that attracted interest from other private equity firms as well as major players in the biomedical sector including Thermo Fischer Scientific Inc.

The consortium has reportedly turned to other private equity firms to help fund the deal as direct lenders although, at this stage there is no certainty that negotiations will lead to a deal being completed.

Baxter’s biopharma solutions unit supports drugmakers in the formulation, development and commercialization of drugs typically given by infusion or injection, such as biologics and vaccines.
 

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