Italian daily Il Messaggero some days ago reported 4 bids for France-based Upsa, put up for sale by US-based group Bristol-Myers Squibb. The article added that pharmaceutical group Angelini made a more profitable bid than private equities PAI Partners and CVC Capital Partners and than direct competitor Stada.
However, French daily Le Figaro today has published an article announcing that the companies admitted to the last transaction stage are 5, Japan-based Taisho Pharmaceuticals being the fifth.
According to the French daily, Stada is now the most eligible one–the company is seeking to acquire Upsa’s French manufacturing facilities in order to partially relocate the production of some drugs currently manufactured in Serbian plants, now working beyond their expected nominal capacity.
The deadline to submit bids is Friday, then BMS will choose the candidate for the last negotiation stage. According to analysts, Upsa could be valued at as much as €1bn.