Bain Capital Reportedly In Talks To Buy Mitsubishi Chemical's Pharma Unit For $3.2 Bln

(RTTNews) - Investment firm Bain Capital is in talks to acquire Mitsubishi Tanabe Pharma Corp., affiliated to Japan's Mitsubishi Chemical Group (MTLHF.PK), in a potential deal, reports said citing people familiar with the matter.

The companies are in the final stages of negotiations, and the deal could exceed 500 billion Japanese yen or around $3.2 billion.

Earlier, Nikkei reported that Mitsubishi Chemical granted preferential negotiation rights to the U.S. investment fund for the purchase of its pharmaceutical unit.

Meanwhile, responding to the Nikkei report, Mitsubishi Chemical said the respective news was not announced by the firm.

In a statement, the company said, "We are continuously reviewing the ideal business portfolio of the entire group for all of our businesses, including the Pharma business, and are promoting portfolio reform with all options, including divestiture, in mind. We will promptly disclose any facts that should be disclosed in the future."

In Japan, Mitsubishi Chemical closed Tuesday's regular trading at 792 yen, up 1.85%.