Warburg and Advent in the lead to acquire Baxter’s biopharma unit

Reuters was first to report on Sunday that a private equity consortium comprising Warburg Pincus and Advent International was in advanced talks to acquire medical device maker Baxter International Inc’s BAX.N biopharma solutions business in a deal that could exceed $4 billion. Warburg Pincus and Advent submitted the most attractive offer to Baxter in an auction that drew interest from other private equity firms as well as major players in the biomedical sector such as Thermo Fisher Scientific Inc. The Reuters scoop has since been confirmed by Baxter.