Posted under Venture Capital
from http://www.pehub.com 1470 days ago

(Reuters) - TPG Capital LP has been exploring a sale of Aptalis Pharma, a specialty drugmaker it has owned since 2008 and values at more than $3 billion, four people familiar with the matter said on Wednesday.

The private equity firm has been working with JPMorgan Chase & Co and Evercore Partners Inc to find a buyer for the Montreal-based drugmaker in a sale process that has been under way for several months, said the sources, who asked not to be named because the matter is confidential.

A number of potential buyers, however, thought TPG’s asking price of more than $3 billion was too high and decided not to bid, and it remains unclear if there will be a deal, two of the sources said.

Raleigh, North Carolina-based Salix Pharmaceuticals and Indian drugmaker Sun Pharmaceutical Industries Ltd are among the companies that passed on bidding after taking a look, the sources ...

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