03:03 PM EDT, 10/01/2024 (MT Newswires) -- (Updates with Sanofi's ( SNY ) response in the fourth paragraph.)

Sanofi ( SNY ) has asked bidders to submit revised proposals for its consumer health unit Opella in the coming days, Bloomberg reported Tuesday, citing sources with knowledge of the matter.

The request will allow bidders to either enhance their proposals or provide additional clarity on specific terms currently under negotiation, the report said. Private equity firms PAI Partners and Clayton Dubilier & Rice had both submitted binding bids before last week's deadline, according to Bloomberg.

A deal could value the consumer health unit at around 15 billion euros ($16.58 billion), the people told Bloomberg, adding that deliberations are still ongoing, and Sanofi ( SNY ) may opt for a spinoff if the bids are not appealing.

"Sanofi ( SNY ) is reviewing potential separation scenarios for the Consumer Healthcare business with a transaction in the 4th quarter of 2024 at the earliest," a Sanofi ( SNY ) spokesperson told MT Newswires. "We are keeping all options open, including a listing, and a sale, to maximize value creation for all our stakeholders."

PAI Partners did not immediately respond to MT Newswires' request for comment while Clayton Dubilier & Rice could not be reached for a comment.

Sanofi ( SNY ) shares were down 0.8% in recent trading.

(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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