Deals
Eli Lilly Lures Bain, Advent on Animal Health Sale
- Carlyle Group may also consider bid for Elanco business
- Lilly still assessing options, could pursue IPO or spinoff
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Eli Lilly & Co. has attracted interest from private equity firms including Bain Capital and Advent International Corp. for its animal-health business, as the pharmaceutical giant considers options for the ailing unit, people with knowledge of the matter said.
Carlyle Group LP may also consider bidding for Elanco, as the unit is known, said the people, who asked not to be identified as the matter isn’t public. Considerations are at an early stage and Lilly may choose to keep the business or pursue a spinoff, they said. Elanco could be valued at $14 billion to $16 billion, according to JPMorgan Chase & Co. estimates from December, when Lilly said it was weighing an initial public offering, sale or merger of the unit.