April 21, 2016 / 6:12 PM / a year ago

Blackstone in talks to buy Canada's Concordia Healthcare-Bloomberg

April 21 (Reuters) - Asset manager Blackstone Group LP is considering a takeover of Canada’s Concordia Healthcare Corp, Bloomberg reported, citing people familiar with the matter.

The talks are at an early stage and a deal may not happen, Bloomberg said. (bloom.bg/1rpQJ6J)

Concordia was not immediately available for comment. Blackstone declined to comment on the report.

Concordia’s U.S.-listed shares surged 25 percent before being halted on the Nasdaq. The drug developer had a market valuation of about $1.2 billion as of Wednesday’s close. (Reporting by Rosmi Shaji in Bengaluru; Editing by Savio D‘Souza)

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