Hisamitsu Pharmaceutical is considering a takeover bid to privatize the Japanese maker of pain-relief patches in a deal that could be worth around ?450 billion ($2.9 billion), people familiar with the matter said.
An entity controlled by CEO Kazuhide Nakatomi, a member of the company’s founding family, is seeking to acquire all outstanding shares of the company, which has a market value of ?338 billion, said the people, who asked not to be identified because the talks are private. Banks will provide financing for the deal, and the buyout proposal is likely to be announced soon, they added.
Hisamitsu confirmed the report, saying it is considering going private and plans to make an announcement Tuesday, according to a company statement.
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