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THL 'could finalise Glaxo takeover'

THL is said to be in the lead to buy assets from Glaxo.

14 December 2011

Private equity firm Thomas H Lee Partners (THL) is said to be in the lead to acquire GlaxoSmithKline consumer health assets.

Merger and acquisition consultants may be approached for advice, as Bloomberg reports the two companies have not set a price and may not reach a deal, citing two people familiar with the matter.

"Glaxo is focusing on consumer assets it can globalise. These assets being sold are worth more to other companies with more of a regional focus," London-based analyst at UBS AG Gbola Amusa told the news provider.

The brands up for sale are mainly based in Europe and the US and accounted for ten per cent of Glaxo's revenue in 2010 - £500 million.

THL already acquired food marketing firm Acosta earlier this year, so an asset takeover would be the organisation's second major deal of the year.

Other private equity organisations have been showing interest in Nokia's Vertu brand, the Financial Times recently reported, which is up for sale as the mobile phone manufacturer attempts to stay afloat and compete with rivals such as Apple.

Posted by David Gleck

Sources: Bloomberg, December 14th

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