US private equity outfit to bid for GlaxoSmithKline´s mature drugs business

US private equity outfit Apollo Global Management is preparing to make a bid for all of GlaxoSmithKline's mature drugs, joining an auction which could see the business valued at over $3bn (£1.91bn), according to four people familiar with the process, Reuters reports.

As of 20:05 the American Depositary Shares of the British drugs giant were trading roughly unchanged, off by 0.02% to $45.61.