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Monday, November 24, 2014

Bayer explores possible sale of diabetes device unit -Bloomberg, (NASDAQ: CG), (NYSE: ZTS)

Germany-based drugmaker Bayer AG is considering the sale of its diabetes device business, Bloomberg reported, citing sources. The unit, thought to be worth 1 billion to 2 billion euros ($1.24 billion to $2.49 billion), might attract offers from private equity firms such as Cinven Ltd, EQT Partners AB and Triton Advisers Ltd, Bloomberg said, citing people familiar with the matter.Credit Suisse Group AG is advising Bayer on the potential sale, Bloomberg reported the sources as saying.Bayer, which also plans to list its plastics unit on the stock market, is interested in bidding for animal-health company Zoetis Inc, Bloomberg also reported.Firms such as KKR & Co LP, Advent, Carlyle Group LP looked at the plastics business unit after Bayer announced plans to spin off the division through a stock market listing.

Shares of CG fell by 1.14% or $-0.34/share to $29.46. In the past year, the shares have traded as low as $26.34 and as high as $39.38. On average, 428866 shares of CG exchange hands on a given day and today's volume is recorded at 618768.

Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. Shares of ZTS traded higher by 1.62% or $0.71/share to $44.58. In the past year, the shares have traded as low as $28.14 and as high as $44.94. On average, 4555670 shares of ZTS exchange hands on a given day and today's volume is recorded at 4178857.



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