Blackstone, Carlyle Depart Concordia Healthcare's Sale Process
June 02 2016 - 4:00PM
Dow Jones News
Two private-equity giants have walked away from the auction
process of Concordia Healthcare Corp., people familiar with
situation said.
Final bids for Concordia were due Tuesday, but Blackstone Group
and Carlyle Group decided not to participate, the people said.
Nasdaq and Toronto-listed Concordia said in April that it formed
a special committee to assess "various strategic alternatives" for
the company, after Bloomberg reported it hired investment bank
Greenhill & Co. to run an auction process for it.
Concordia, which focuses on orphan drugs and legacy
pharmaceutical products, has a $1.58 billion market capitalization
based on its current share price.
Apollo Global Management LLC could be the last man standing in
the process to buy the Canadian pharmaceutical company. The people
said Apollo was one of three potential investors in the current
round of bidding, but it isn't known whether Apollo decided to
submit a final round bid.
Write to Amy Or at amy.or@wsj.com. Follow her at @theamyor
(END) Dow Jones Newswires
June 02, 2016 15:45 ET (19:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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