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Exclusive - Apollo to bid for GlaxoSmithKline's mature drugs: sources

Reuters
A jogger runs past a signage for pharmaceutical giant GlaxoSmithKline (GSK) in London April 22, 2014. REUTERS/Luke MacGregor

By Sophie Sassard and Freya Berry

LONDON (Reuters) - Apollo Global Management is planning to bid for all GlaxoSmithKline's mature drugs, joining an auction expected to value the business at more than $3 billion (1.19 billion pounds), according to four people familiar with the process.

The private equity firm, run by Leon Black, could change the dynamic of the auction because it is ready to buy all the products on offer, while other potential buyers are looking to acquire only certain regional businesses.

Apollo, GSK declined to comment.

(Editing by Alex Smith)