KKR Eyes New 13-Month High

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Shares of KKR & Co. were up almost 3% pre-market Monday after Swiss drugmaker Lonza Group confirmed that it is in final talks for a potential acquisition of Capsugel from the investment firm.

Lonza said Capsugel, which manufactures drug delivery systems including capsules, would “fit perfectly” with its healthcare continuum strategy but added that there are no guarantees that a deal will be completed. Sources cited by Reuters said a potential transaction for Capsugel could be valued at over $5 billion.

KKR was moving above the top end of its 52-week range of $10.89 to $17.57 in recent pre-market, on track to hit a new 13-month high if gains hold through regular trade.

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