'Blackstone, Bain to bid for Mitsubishi Pharma unit in up to $3.5 billion deal'

Mitsubishi Chemical has hired Goldman Sachs to run the sale process and binding bids are due on Dec. 24, the sources said. Local private equity firm Japan Industrial Partners (JIP) is also bidding for the company, said the sources, who all declined to be named as the information was confidential.