Biostime swallows Aussie vitamin maker for $992m

The Chinese baby formula maker's deal for Australia's Swisse Wellness shows SOEs have rivals for overseas M&A targets. But some wonder if Biostime is punching above its weight.

Chinese baby formula manufacturer Biostime International’s purchase of a majority stake in Australian health supplement maker Swisse Wellness sends a key message to the market - the acquisition of quality overseas assets isn't just for big state-owned players anymore.

¬ Haymarket Media Limited. All rights reserved.

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