German business daily "Handelsblatt" reports that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), Pfizer Inc. (NYSE: PFE; LSE: PFZ), and Swedish private equity fund EQT are the three finalists for German generics drug company Ratiopharm GmbH. The finalists will make their bids in early February. France's Sanofi Aventis SA NYSE: SNY; Euronext: SAN), and China's Sinopharm Group Co. Ltd. (HKSE: 1099; Pink Sheets: SHTDF) withdrew from the tender in December.
Ratiopharm is reportedly valued at about €2.8-3 billion. If Teva wins the tender, this will be its largest acquisition since acquiring Barr Pharmaceuticals of the US for $9 billion, including debt, in 2008.
Ratiopharm is a private company owned by the Merckle family. Ludwig Merckle put the company up for sale last year, after his late father Adolf Merckle committed suicide in early 2009 after losing control over his business empire to lenders.
If Teva acquires Ratiopharm, it will win a major foothold in the German healthcare market, considered a large and growing market. Teva, the world's largest generic drug company, is not a big player in the German market.
Teva's share closed at $58.27 on Nasdaq on Friday. The share fell 0.3% in morning trading on the TASE today to NIS 216.20.
Published by Globes [online], Israel business news - www.globes-online.com - on January 19, 2010
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