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Thomas H Lee Partners In Race For GSK Unit

U.S.-based Thomas H. Lee Partners, a buyout firm, is among finalists in the race for pharmaceutical and healthcare firm GlaxoSmithKline’s consumer drug portfolio.

U.S.-based Thomas H. Lee Partners, a buyout firm, is among finalists in the race for pharmaceutical and healthcare firm GlaxoSmithKline’s (GSK) consumer drug portfolio, The Wall Street Journal reports. The buyout firm faces competition from private alternative asset manager Bain Capital and a team of Blackstone Group and over-the-counter drug firm Prestige Brands Holdings which have also put in bids.

Final bids, tendered on November 11, were for the entire business. It is not known whether there were any other offers for the portfolio as a whole or in parts. Global investment banking and securities firm Goldman Sachs Group is managing the portfolio’s auction. While the business is valued between £1.5 billion and £2 billion, the final price settled may be lower due to a difficult market and funds shortage.

Click here for the story from The Wall Street Journal.

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