Thomas H. Lee Partners LP is in the lead to buy consumer-health assets from GlaxoSmithKline Plc (GSK), and may announce a deal as soon as this week, said two people with knowledge of the matter.
THL is close to entering exclusive talks with Glaxo, said the people, who declined to be identified as the matter is private. The companies have yet to agree on price and may not reach a deal, the people said. Bain Capital LLC also submitted an offer for the assets, and Blackstone Group LP (BX) and Prestige Brands Holdings Inc. (PBH) put in a joint bid, they said.
Glaxo is selling products including the Alli diet pill, Lactacyd soap, FiberChoice diet supplements and Nytol sleep aid. Chief Executive Officer Andrew Witty plans to keep brands such as Sensodyne toothpaste and Panadol pain reliever as he expands Glaxo’s oral health, wellness and nutrition businesses in the consumer division.
“Glaxo is focusing on consumer assets it can globalize,” said Gbola Amusa, a London-based analyst at UBS AG. “These assets being sold are worth more to other companies with more of a regional focus.”
Sunday, December 18, 2011
Thomas H. Lee Is Said to Be in Lead to Buy Glaxo Consumer Assets - Bloomberg