Looking to boost its footprint in the UK market, Sun Pharma is evaluating a buyout of UK-based Bolt Equity Limited, says Economic Times, sources.
Bolt Equity trades under the name Martindale Pharmaceuticals, a specialty pharma with products that focus on the cardiovascular system, analgesia, anaesthesia, antidotes and metabolic imbalances.
Bolt is strong player in the UK region, and Sun Pharma reportedly wants to leverage Bolt's connections in the niche hospital-initiated & emergency care segment.
According to ET's sources, due dilligence for the transaction has been concluded and the deadline for binding bids has passed. There are multiple suitors for the target, including global private equity players and a few Indian companies.
Read the ET article