Warburg Pincus Considers Purchase of Elan Business
According to Reuters, Warburg Pincus is considering making an offer to purchase Elan Corporation’s drug delivery unit. A number of different companies have already made offers to Elan Drug Technologies.
The anticipated price for this business segment is expected to be between $1.3 and 1.4 billion. Other parties that have expressed interest include Bain Capital, Cinven, and Texas Pacific Group. Though recent reports suggest that Cinven has withdrawn interest.
Previous reports about the intended sale suggest that Elan is hoping to unload the business rapidly.
August 25, 2008 Related topics: Mergers & Acquisitions