08:45 AM EDT, 07/18/2024 (MT Newswires) -- Private equity firms Advent International and PAI Partners are among the first-round bidders for Sanofi's ( SNY ) consumer health division, with some offers valuing the unit up to 15 billion euros ($16.4 billion), Bloomberg reported Thursday, citing people familiar with the matter.

Clayton Dubilier & Rice have also submitted a bid, the report said. CVC Capital Partners and a Bain Capital and Cinven consortium did not submit bids by the deadline, the report added.

Discussions are still in progress, and some bidders may decide to join forces later in the process, while other bidders may also emerge, the report said.

A Sanofi ( SNY ) representative told Bloomberg that the company is considering various separation scenarios for the business, including a listing or sale, with the goal of closing a transaction by Q4 at the earliest.

Cinven and PAI Partners declined to comment, while Sanofi ( SNY ), Advent, Bain, Clayton Dubilier & Rice and CVC Capital Partners did not immediately respond to Mt Newswires' requests for comment.

Sanofi ( SNY ) shares were up 0.6% in recent Thursday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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