Boehringer to bid for poultry vaccine maker Lohmann: sources

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Boehringer to bid for poultry vaccine maker Lohmann: sources

Germany's Boehringer Ingelheim, the world's largest unlisted drugmaker, is looking to expand its animal health business and is set to make an offer for poultry vaccine and feed additives maker Lohmann, two people familiar with the matter said. Boehringer Ingelheim, which is among the world's top 10 suppliers of animal health products, is expected to submit a bid for privately-held Lohmann Animal Health by a Monday deadline, they added. The bid will value the company, which is owned by PHW Group, Germany's biggest poultry farmer and owner of the Wiesenhof food brand, at about 400 million euros ($535 million), or 16 times its expected operating earnings, the sources said. Private equity groups such as Permira will also hand in offers for the group, which posted 256 million euros in sales last year and employs 640 staff, the sources added.

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