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Ikaria reportedly hires advisors for sale process.

M2 EQUITYBITES-October 4, 2013-Ikaria reportedly hires advisors for sale process(C)2013 M2 COMMUNICATIONS

4 October 2013 - US critical care company Ikaria Inc hired Morgan Stanley (NYSE:MS) and Credit Suisse Group AG (NYSE:CS) to help it with a sale process, targeting a valuation of over USD2bn (EUR1.5bn), according to three informed sources cited by Reuters.

The company, which makes the INOMAX drug, providing nitric oxide gas for treatment of serious breathing conditions in newborns, is owned by private equity and venture capital firms New Mountain Capital LLC, ARCH Venture Partners LP and Venrock Associates LP.

Ikaria considered an initial public offering (IPO) in 2010, but then gave up the registration due to market conditions, it has said.

The company and its advisors made no comment to Reuters.

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Publication:M2 EquityBites (EQB)
Date:Oct 4, 2013
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