Novartis' Sandoz reportedly the target of $25B buyout bid from Carlyle and Blackstone

As Novartis reviews its generics business, the list of potential Sandoz suitors has grown. The deal could become one of the biggest generic industry acquisitions ever—assuming an offer makes it across the finish line.

Investor groups Blackstone and Carlyle could join forces on a massive $25 billion bid for Sandoz, Bloomberg reports, citing people close to the matter. The private equity firms are discussing a potential joint offer for the Novartis unit, the publication said. Separately, Advent International, Hellman & Friedman and KKR & Co. are sizing up their own approaches, Bloomberg’s anonymous sources said.