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Solvay narrows bidders for business to two-FT.com

Tue Jul 14, 2009 7:27pm EDT

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LONDON, July 14 (Reuters) - Belgium's Solvay (SOLB.BR) has narrowed the list of bidders for its pharmaceuticals business to Swiss company Nycomed [NYCMD.UL] and Abbott Laboratories (ABT.N) of the United States, FT.com reported on its website.

Stocks  |  Mergers & Acquisitions

Citing "people close to the situation," the website said that the board of Solvay met on Monday to consider the two bids.

The website said that the sale could generate 5 billion euros.

People familiar with the situation told FT.com that Solvay was not a forced seller and could still choose to list the pharmaceutical business on the stock market, enter into a partnership, or hold on to it if it the company could not get the sale price it wanted. (Reporting by Sumeet Desai; Editing by Gary Hill)

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