Hitachi Bidding to Acquire Wako Pure Chemicals to Strengthen Presence in the Healthcare Sector
Hitachi Group has entered the race with Fujifilm to acquire the chemical unit of Takeda Pharmaceuticals, Wako Pure Chemicals Industries. Wako is Japan’s leading supplier of laboratory chemicals for testing compounds in drug development. Takeda, which has 70% stake in Wako, could gain 100 billion yen (US$996 million) if this deal comes through. Hitachi is bidding to acquire Wako through its chemical unit, Hitachi Chemical, with the intention of strengthening its presence in the healthcare sector. Hitachi may bear some of the acquisition costs.