KKR-backed Panasonic Healthcare agreed on Wednesday to buy Bayer Diabetes Care for 1 billion $1.1 billion in a rare example of a foreign private equity group and a Japanese company jointly making a large overseas acquisition.
The deal illustrates the global ambitions of Japanese companies, which are increasingly accessing cheap domestic financing to snap up overseas assets.
Bayer Diabetes Care, a unit of German pharmaceutical giant Bayer, provides blood glucose monitoring...