Private Equity Firms Bidding for Akzo’s Pharma Business?

Speculation is mounting that Akzo Nobel will sell its Organon BioSciences pharmaceuticals business, instead of spinning the business off as originally planned, and that Akzo will use proceeds to make a bid for ICI (CW, Dec. 13, 2006, p. 11). Akzo has invited bids for Organon and two groups of private equity capital firms have so far expressed an interest, according to a January 4 report in Dutch newspaper Het Financieele Dagblad. Bids are due by mid-January, the report adds. One group of bidders includes CVC Capital Partners, Kohlberg Kravis Roberts, and Warburg...

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