A clutch of private equity firms are set to table second-round bids tomorrow in the auction of AstraZeneca’s medical devices and dental business.
Britain’s second-biggest drug maker is considering a sale of Astra Tech, which includes a dental implants division and a medical devices unit, in a deal which could raise around $2bn (£1.2bn).
PAI Partners, Cinven and Bridgepoint are thought to be tabling bids for just the medical devices unit, while Swedish private equity firm EQT is said to be expected to bid for the whole business. It is unclear whether American private equity house Warburg Pincus, remains interested in the business.
Nobel Biocare, a Swiss maker of dental implants, is no longer interested in acquiring Astra Tech’s business, and fellow Swiss company, Straumann, is thought to be no longer in the running….read more
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