A consortium including French private equity firm PAI Partners has raised its offer for Sanofi’s consumer health business, Opella, according to sources. The group has revised its bid by €200m, challenging US private equity rival Clayton Dubilier & Rice (CD&R), for a 50% stake in Opella. Sanofi plans to retain a 50% stake in the business and is seeking an investor for the other half. As part of the new offer, PAI said it would protect jobs at French production sites in Compiègne and Lisieux, notably by investing at least €60m over five years. It comes after PAI’s first takeover attempts were sh…