Bayer cancels diabetes device unit sale: paper
FRANKFURT (Reuters) - Bayer AG has called off the sale of its blood glucose meters business for now, Financial Times Deutschland reported, citing industry and financial sources.
According to the paper, Germany's largest drugmaker could not find a buyer who was willing to pay the asking price.
The unit has annual sales of about 1 billion euros ($1.3 billion), which would value it at 1-2 billion euros, based on current multiples, the paper said.
Sources told Reuters in May Bayer was considering the sale of the unit, because it offers few synergies with its other healthcare activities.
($1 = 0.7716 euros)
(Reporting by Harro ten Wolde)
- Ford leans on global Mustang to burnish overseas image
- Gunmen kill U.S. teacher in Libya's Benghazi
- Obama says he's not allowed iPhone for 'security reasons'
- U.S. fast-food workers walk off job, rally for higher minimum wage
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |