Johnson & Johnson’s Jettisoned Blood Testing Unit Gets a Buyer
Several sources, including Reuters and the New York Times, reported Monday that the private equity firm the Carlyle Group (NASDAQ:CG) is currently in exclusive talks regarding Johnson & Johnson’s (NYSE:JNJ) blood testing unit. If the Carlyle Group is successful, it’s estimated that the deal could be worth $4 billion, a source who spoke to the New York Times said.
But the Carlyle Group’s bid isn’t a done deal yet, and a source who spoke to the New York Times cautioned that it’s still possible for the negotiations to fall through. A more precise idea of the price being offered by Carlyle is unavailable, as the sales proceedings are confidential.
The Carlyle Group has succeeded over rival bidders for the blood testing unit during an auction process which drew bids from corporate and private equity hopefuls, the New York Times reports; most recently the Carlyle Group prevailed over the Blackstone Group, which was acting in partnership with Danaher Corp., an industrial and healthcare conglomerate, for a shot at a deal with Johnson & Johnson.