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Report: Perrigo, Reckitt Benckiser eye Aspen's infant formula business

Perrigo Co. PLC and Reckitt Benckiser Group PLC are interested in acquiring Aspen Pharmacare Holdings Ltd's infant formula business, Bloomberg News reported, citing people familiar with the matter.

France's Lactalis and Australia's iNova Pharmaceuticals are also considering bidding for a stake in the unit, which could fetch approximately $1 billion to $1.5 billion in a potential deal, the unnamed sources said.

Aspen also sent information on the infant milk business to China-based infant formula companies, including Beingmate Baby & Child Food Co. Ltd., Health and Happiness (H&H) International Holdings Ltd and Inner Mongolia Yili Industrial Group Co. Ltd.

The discussions are at an early stage, and there is no guarantee that the companies will submit offers, Bloomberg News said.

In January, South Africa-based Aspen was considering bringing in a partner for the unit, and hired Centerview Partners as a financial adviser, after it received an offer in 2017.