Apollo Global Management (APO) is in talks to acquire Johnson & Johnson's (JNJ) hips-and-knees business for about $20 billion, The Wall Street Journal reported Saturday, citing unnamed people familiar with the matter.

The report said J&J has been seeking to separate its DePuy Synthes orthopedics unit, which generated $9.3 billion in sales last year.

The talks with Apollo may not result in a deal, and other bidders could emerge, the report said.

Apollo and J&J did not immediately respond MT Newswires' request for comment.

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