Bayer ready to consider AH division bids

Bayer is set to implement savings plans it announced in November 2018 by selling its animal health division which sells the fleas and ticks treatment Advantage amongst its veterinary treatments for pets and livestock. Other cost-cutting measures announced in November included the sale of some consumer health brands and 12,000 job losses across the company.
Interested buyers for the division that carries an estimated price tag of up to £8 billion include Advent International, CVC in Luxembourg, BC Partners in London who are considering a partnership with a view to entering a joint bid, Cinven and Permira who are considering a collaboration, and US buyout companies. Revenues at the Bayer division fell 4.5% to €1.5bn last year, whilst earnings before interest and tax increased to €312m.