A $20 Billion Deal Would Relieve LBO Constipation: Chris Hughes

The jumbo leveraged buyout is attempting a comeback. A deal for Sanofi SA’s consumer health-care business — purveyor of laxative brand Dulcolax — would be the perfect remedy for private equity’s constipation.

Advent International, Bain Capital, Blackstone Inc., CVC Capital Partners, EQT AB and KKR & Co. are mulling offers to relieve the French pharmaceutical firm of the division at a possible $20 billion valuation, Bloomberg News reported last week. Sanofi has said it plans to separate the unit, most likely by giving it a distinct listing. You can see why so many buyout shops are hoping for an outright sale instead.

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