NEW YORK Jan 30 Quintiles Transnational Corp, the largest provider of testing services to drugmakers, has chosen Morgan Stanley, Barclays Plc and JPMorgan Chase & Co as joint bookrunners for a planned initial public offering, people familiar with the matter said on Wednesday.
Quintiles, owned by private equity investors that include Bain Capital LLC and TPG Capital LP, held "bake-off" talks with investment banks to appoint bookrunners for an IPO, Reuters reported last week.
The proposed offering would come five years after Bain and TPG became lead investors in Quintiles in January 2008, when One Equity Partners sold its stake in the Durham, North Carolina-based company.
Bain was not immediately reached for comment. TPG, Morgan Stanley, Barclays and JPMorgan declined comment. The sources asked not to be named because the matter is not public.