Bain Capital Nears Mitsubishi Pharma Unit Deal
Bain Capital is poised to acquire Mitsubishi Chemical Group Corp.'s pharmaceutical division, according to sources familiar with the matter. This transaction adds to the recent surge in dealmaking activity in Japan.
The US-based private equity firm and Mitsubishi are finalizing details of an agreement that could be announced by Friday. The Mitsubishi Tanabe Pharma unit is estimated to be valued at over ¥500 billion yen ($3.3 billion).
Bain has emerged as the leading bidder, surpassing other investment funds. However, discussions continue, and no final decisions have been made.
A Bain representative declined to comment, while Mitsubishi Chemical stated that it was not the source of the report and would promptly disclose any material developments.
Nikkei first reported Bain's status as the preferred bidder last month. Bain has intensified its investment activity in Japan, a hub of ongoing deals. The Boston-based company is competing with KKR & Co. for Fuji Soft Inc., with KKR recently increasing its offer for the Japanese software provider.