Five bidders are left standing in the race to purchase pan-European lab group Labco: fellow lab operators Unilabs and Cerba, as well as private equity funds Advent International, Hellman & Friedman and One Equity Partners. But with German price ceilings hurting growth prospects and regulatory risk in France, what kind of deal is taking place? And will it be one that 3i - owner of a large chunk of Labco, and currently putting the deal on hold until its shareholder demands are met - will be willing to accept?
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