Global technology company, Smiths Group, has declined a bid for its Smiths Medical unit, The Wall Street Journal reports. The $3.89 billion cash offer was made by buyout firm, Apax Partners.
The board of Smiths Group has concluded that the bid was not in the interests of shareholders. No other bidders have offered to buy the division and Apax is unlikely to increase its offer for Smiths Medical, adds The Telegraph.
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