By Kosaku Narioka
Bain Capital is in talks to acquire Mitsubishi Chemical Group's pharmaceutical business in a potential multibillion-dollar deal, a person familiar with the matter said.
The U.S. investment company is in the final stages of negotiations to buy the subsidiary Mitsubishi Tanabe Pharma for possibly more than 500 billion yen, equivalent to $3.21 billion, the person said.
Japanese business daily Nikkei reported earlier that Mitsubishi Chemical had given preferential negotiation rights to Bain Capital for the potential sale of the pharmaceutical unit.
Responding to the Nikkei report, Mitsubishi Chemical in a statement said the company is discussing the ideal business portfolio for the entire company, including the pharmaceutical business, and is going through a portfolio revamp with all options in mind, including possible sales.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 21, 2025 00:00 ET (05:00 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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