The bidding for German medical skin patch maker LTS Lohmann has turned into a two-way race between buyout firms Wendel and Nordic Capital, valuing the company at about 1.2 billion euros ($1.6 billion), three people familiar with the matter said. Nordic Capital may be looking to combine LTS Lohmann with another skin patch maker it agreed to buy last month, Acino . Nordic had teamed up with Avista Capital Partners to acquire the Swiss firm, which makes a contraceptive patch for Bayer.
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