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Warner Chilcott to buy P&G unit for $3bn

Warner Chilcott, a specialty drug maker, is acquiring Procter & Gamble’s prescription drug business for about $3bn, reports Reuters. A transaction could be announced on Monday. Six lenders led by Bank of America and JPMorgan will provide up to $4bn of financing, including $1bn to refinance Warner Chilcott debt, said sources familiar with the matter. Other banks expected to take part in the financing include Credit Suisse, Citigroup, Barclays and Morgan Stanley.

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