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When Blackstone signed an agreement to buy Takeda Pharmaceutical’s consumer healthcare business in late August for ¥242 billion ($2.3 billion), it proved that one of the most dynamic trends in M&A was intact despite the disruption of Covid-19.
That is the trend for large Japanese corporations to divest businesses that aren’t core to them, with international private equity houses cashed-up and eager to pick them up.
It is a big relief for local and international investment bankers in Japan, who have seen other forms of cross-border M&A fall away as the virus persists.
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