TOKYO (dpa-AFX) - Toshiba Medical Systems has made an offer to acquire a Takeda Pharmaceutical (TKPHF.PK, TKPYY.PK) subsidiary, setting the stage for a bidding war with its two main rival medical equipment manufacturers, the Nikkei reported.
The report noted that Fujifilm Holdings and the Hitachi group also participated in the first round of bidding for Wako Pure Chemicals Industries. Multiple investment firms are believed to have submitted bids by Tuesday's deadline as well.
Osaka-based Wako is Japan's largest supplier of laboratory chemicals for testing compounds in drug development, logging some 80 billion yen in overall sales last fiscal year. Takeda intends to sell its entire stake of roughly 70% in the subsidiary in a deal expected to be worth around 100 billion yen.
Toshiba Medical made the bid in its own name even though the company is slated to come under Canon's umbrella through a deal reached earlier this year, the report noted.
Takeda has decided to sell off Wako to focus on developing new drugs.
Copyright RTT News/dpa-AFX