Bids Rumored For Stake In Wockhardt
Cipla And Dr Reddy’s Among Bids Rumored For Late November
A clutch of domestic suitors and global private-equity funds are conducting due diligence with an eye to acquiring segments of debt-laden Indian firm Wockhardt and bids are expected in late November, according to a new report.
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Cipla is reportedly leading the pack to acquire business divisions of debt-laden Wockhardt in a transaction that could be worth hundreds of millions of dollars and would boost the Mumbai-based company’s domestic presence.
Private-equity firms are reportedly in talks to acquire a controlling stake in the domestic formulations business of India’s Wockhardt, which is seeking funds to pay down significant debts.