Report: Jubilant eyes bid for Cambrex

India's Jubilant reportedly may bid more than $500 million to buy New Jersey-based Cambrex. The Economic Times says that Jubilant may soon raise $125 million to add to the $200 million buyout fund it accumulated earlier this year. Cambrex, which has $450 million in revenue and has been steadily losing money, posted a for-sale sign in February when it retained Bear Stearns to explore "strategic alternatives."

- see the report from My Iris