Market Chatter: KKR-Backed PHC Target of $1.27 Billion Takeover Bid From Toho

06:43 AM EDT, 09/30/2026 (MT Newswires) -- KKR-backed (KKR) medical device maker PHC is in negotiations to be acquired by Toho Holdings for over 200 billion Japanese yen ($1.27 billion), Bloomberg News reported Wednesday, citing people familiar with the matter. The Tokyo-based pharmaceutical distributor submitted an initial proposal and is performing due diligence as the sole prospective buyer involved in direct talks, the news outlet quoted the people as saying. The tender offer price is expected to carry a premium, with total acquisition expenses potentially crossing 200 billion yen, Bloomberg reported, citing the people. Toho, KKR, and PHC did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)