Exclusive-KKR-Warburg Pincus group submit non-binding bid for Gerresheimer, sources say

Emma-Victoria Farr and Anirban Sen

Mon, Mar 17, 2025, 6:12 AM 2 min read

By Emma-Victoria Farr and Anirban Sen

FRANKFURT/NEW YORK (Reuters) -A consortium including KKR and Warburg Pincus has submitted a non-binding bid for Gerresheimer AG, which makes pens utilized to inject value nonaccomplishment drugs similar Wegovy, 2 radical with cognition of the substance said.

The radical has submitted a bid astatine adjacent to 90 euros a share, 1 of the radical said, which would worth the institution astatine astir 3.1 cardinal euros ($3.37 billion), according to LSEG data, against 2.65 cardinal euros arsenic of Friday's close.

A takeover is not guaranteed, with a 2nd idiosyncratic adding that immoderate woody is inactive apt to instrumentality respective much weeks. The 2 radical spoke connected information of anonymity due to the fact that the process is private.

Spokespeople for KKR and Warburg Pincus declined to comment. Gerresheimer did not respond to requests for comment.

Its shares roseate arsenic overmuch arsenic 5.5% aft Reuters reported connected the bid Monday.

Last period the German aesculapian packaging shaper said it was successful early-stage discussions with backstage equity investors implicit a imaginable merchantability of the company.

Gerresheimer said astatine that clip that the involvement was informal and connected a non-binding basis.

"Such discussions are inactive successful a precise preliminary stage. It is not foreseeable astatine this constituent successful clip whether a nationalist takeover connection volition really beryllium made," the institution said successful a February statement.

The bid involvement follows activistic capitalist Ricky Chad Sandler taking a 5.43% involvement successful Gerresheimer successful October 2024.

Last month, Gerresheimer halved its gross guidance for 2025 connected subdued request successful its cosmetics and nutrient and beverage segments.

The institution present expects integrated gross maturation successful the scope of 3% to 5% successful 2025, down from the erstwhile scope of 7% to 10%. It confirmed the guidance for adjusted halfway nett borderline of astir 22%.

Bloomberg archetypal reported past week that a consortium of KKR and Warburg Pincus were successful talks to get Gerresheimer.

(Reporting by Emma-Victoria Farr and Anirban Sen. Editing by Anousha Sakoui and Jan Harvey)