 |
Finsbury is handling press for Reckitt Benckiser Group, which yanked its $20B deal on March 21 to acquire Pfizer's consumer healthcare business.
CEO Rakesh Kapoor decided that Pfizer's consumer health business wasn't a good fit, opting instead to concentrate on the $16B integration of Mead Johnson's nutritional formula business and the reorganizing of operations into health and hygiene business units.
GlaxoSmithKline today said it also has decided not to pursue the acquisition of Pfizer's consumer healthcare unit.
“While we will continue to review opportunities that may accelerate our strategy, they must meet our criteria for returns and not compromise our priorities for capital allocation,” said CEO Emma Walmsley in a statement.
Pfizer is reviewing its strategic alternatives, which could mean sale, spin-off or retaining the consumer operation.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
