BREAKING: Apax steps away from £400m takeover of London-listed Alliance Pharma
Apax Partners, the private equity firm, has called off talks about a £400m bid for Alliance Pharma, the London-listed company which owns brands including Forceval vitamin supplements and Nizoral shampoo.
Sky News has learnt that Apax was in discussions until this week about an offer for the company, which has a market value of about £320m. It was unclear on Wednesday why the buyout firm had stepped away from the talks, or whether any other suitors were engaged with Alliance Pharma.Alliance Pharma holds the rights to approximately 80 consumer healthcare brands and prescription medicines.In its annual results in March, the company said trading"had not been as strong as had been anticipated", adding that revenue growth had been affected by COVID-19 lockdowns in China.
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