Covidien Seeks Buyer for its Pharma Unit; Looking to Seek as Much as $4 Billion
Covidien Plc (COV.N) is looking to sell its pharmaceuticals unit for as much as $4 billion, a source familiar with the situation said on Tuesday.
JPMorgan Chase & Co (JPM.N) is advising Covidien on the matter, said the source, who declined to be named because the information was not public.
Covidien may decide to keep the drugs unit if the auction fails to generate high-enough offers, the source said.