02:58 PM EDT, 10/18/2024 (MT Newswires) -- Sanofi ( SNY ) is close to finalize a deal this weekend to sell control of its consumer health unit, Opella, to Clayton Dubilier & Rice, Bloomberg reported Friday, citing sources.

The agreement follows a last-minute attempt by a PAI Partners-led consortium that submitted an improved bid with additional commitments for jobs and investments, the report said. Sanofi ( SNY ) reportedly dismissed the attempt as outside the established bidding process.

Sanofi's ( SNY ) board is scheduled to meet and discuss the deal with CD&R and plans to finalize measures for protecting local jobs and plants, the people familiar with the matter told Bloomberg, adding that a deal could be announced as early as next week.

Any deal will still require French regulatory approvals, Bloomberg said.

Sanofi ( SNY ), and CD&R did not immediately respond to MT Newswires' requests for comment.

(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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