Private equity, sovereign wealth fund ally on an $8B buyout aimed at taking rare disease player private
A private equity group has joined hands with a sovereign wealth fund out of Singapore to strike a deal to buy Swedish Orphan Biovitrum — a high-profile rare disease player better known as Sobi — for $8 billion and take the company private. But its biggest investor left a back door open to any competing offers, spurring some speculation that the bidding may not be over.
Advent International and a subsidiary of GIC finalized a deal to acquire Sobi for a 34.5% premium on its stock, based on its August 25 closing price, when buyout rumors began to circulate via Bloomberg.
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