Blackstone and Bain to Bid Up to $3.5 Billion for Mitsubishi's Pharmaceutical Unit

Global private equity firms Blackstone and Bain Capital are among the final bidders for a deal that could value Japan's Mitsubishi Tanabe Pharma, a unit of Mitsubishi Chemical Group, between $3 billion and $3.5 billion. Local private equity firm Japan Industrial Partners is also expected to submit a bid. Mitsubishi Chemical has engaged Goldman Sachs to manage the sale process, with binding offers due on December 24.