Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Forget About 5G, China Says. We’re Already Developing 6G
Alibaba Sued by Home Appliance Maker Over E-Commerce Marketing
WeChat Pay Eyes Foreign Visitors in Race with Alipay
LATEST
Gree to Invest $290 Million in Another Chipmaker
China Raises Annual Rare Earths Quotas at Least 10%
Update: Alibaba’s ‘Double 11’ Shopping Gala Reaches New High as Hong Kong IPO Looms
‘Double 11’ Spending Boom Comes at Environmental Cost, Study Warns
Tencent’s Pony Ma Gallops Back Onto List of World’s Best-Performing CEOs
Two More Chinese Firms Downsize U.S. IPOs as Investor Interest Cools
The Sinister Side to China’s Most Successful Rural High School
Bank Regulator Denies Sweeping Plan to Merge of Troubled Small and Midsized Banks
Tencent Eyes U.S. Gamers Through Deeper Ties with Nintendo: Report
Government-Backed Report Points Finger at AI, Foreign Websites for Spreading ‘Misinformation’
China Mulls Further Electric-Car Subsidy Cuts
Caixin Summit: Don’t Abandon Traditional Industries While Encouraging New Technology, Renowned Researcher Says
Alibaba Increases Stake in Cainiao Network to 63% from 51%
China’s New NEV Battery Recycling Mandate Puts the Onus on Struggling Carmakers
Baidu CEO Robin Li Chirps Up Achievements Despite Quarterly Loss
Update: Alibaba Heads to Hong Kong — Finally
Vivo Chooses Samsung Chips for New 5G Phones
Didi Apologizes, Modifies ‘Sexist’ Hitch Relaunch Plan
New York Tech Company Charged With Selling Chinese Spy Equipment to U.S. Government
China’s Cabinet Lifts Foreign-Capital Limits in Sweeping Opening-Up Policy Statement
China's Fosun Mulls Joint Bid for Bayer Animal Health Arm

By Bloomberg / Jun 18, 2019 02:22 AM / Business & Tech

Photo: Bloomberg

Photo: Bloomberg

Fosun International Ltd. is considering a bid for Bayer AG’s animal health business, people familiar with the matter said. The move could mark a return to big-ticket deals for the Chinese conglomerate backed by billionaire Guo Guangchang.

Fosun has held talks with potential advisers and is considering teaming up with private equity firms or other financial investors for a joint offer, the people said. Bayer could start the sale process as soon as the next few weeks.

The animal health business could fetch as much as 8 billion euros ($9 billion) and has drawn preliminary interest from potential bidders including KKR & Co., CVC Capital Partners, Advent International, Blackstone Group LP, EQT Partners and Permira, Bloomberg News has reported.

Deliberations are at an early stage, and Fosun could still decide against pursuing a formal bid, the people said. A representative for Fosun said the company has no information to disclose, while a representative for Bayer declined to comment.

The last time Fosun announced a billion-dollar takeover was nearly three years ago, before Beijing began clamping down on some serial Chinese acquirers, data compiled by Bloomberg show. The government has sought to limit frothy purchases overseas and restricted deals in certain industries after high-profile global buying sprees by some Chinese firms such as Anbang Insurance Group Co. left them saddled with debt.

Fosun Co-President Xu Xiaoliang said in a September 2017 interview that the company remains on course to expand its footprint globally, focusing on sectors the government has indicated it would approve of.

Bayer’s animal-health unit sells veterinary products for pets and livestock. Its best-selling product line is the Advantage flea, tick and worm treatment for small animals. Fosun could help further expand Bayer’s existing business in Asian markets including China, the people said.

Related: Fosun Jumps on Report of Talks to Buy Thomas Cook Tour Unit
Share this article
Open WeChat and scan the QR code