UPDATE 1-Ratiopharm owner says satisfied with bids

Thu Nov 5, 2009 10:17am GMT
 
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* Number of bidders positive surprise - VEM

* VEM says "very satisfied" with level of bids

* Sale as whole remains priority

* Bidders comprise drugmakers and buyout firms

(Adds details, background)

FRANKFURT, Nov 5 (Reuters) - VEM, the owner of German generic drugmaker Ratiopharm, said it was satisfied with the first-round offers received for the forced sale of the unit, indicating that bidding could turn competitive.

A spokesman for the Merckle family investment vehicle VEM said on Thursday it was positively surprised by the number of bids, which were not binding, and that it was "very satisfied" with the level of the offers.

Both drug makers and financial investors filed offers before the deadline for indicative bids on Wednesday, he added.

Encouraged by the interest from suitors, the sale of Ratiopharm as a whole remained a priority, he said.  Continued...

 

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