AstraZeneca (AZN) Considers Multi-Billion Unit Sale to Dentsply (XRAY)
Tweet
Share
E-mail
Get Alerts AZN Hot Sheet
Join SI Premium – FREE
AstraZeneca Plc (NYSE: AZN) is said to be nearing the sale of its Asta Tech unit to Dentsply (Nasdaq: XRAY).
The deal, which is valued at $1.8 billion, has not been formally announced, Bloomberg says, citing people familiar with the matter.
AstraZeneca is looking to sell the unit because its not part of AstraZeneca's strategy. A sale has been sought by AstraZeneca since January, and the company was expecting about $2 billion for the unit.
Neither has commented on the rumor, though an announcement is expected soon, says the Financial Times.
The unit employs 2,200 and draws revs north of $500 million on average annually.
AstraZeneca is trading slightly lower pre-market.
The deal, which is valued at $1.8 billion, has not been formally announced, Bloomberg says, citing people familiar with the matter.
AstraZeneca is looking to sell the unit because its not part of AstraZeneca's strategy. A sale has been sought by AstraZeneca since January, and the company was expecting about $2 billion for the unit.
Neither has commented on the rumor, though an announcement is expected soon, says the Financial Times.
The unit employs 2,200 and draws revs north of $500 million on average annually.
AstraZeneca is trading slightly lower pre-market.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Leggett & Platt shareholders approve merger with Somnigroup
- Holcim to acquire Fermacell from James Hardie for EUR 840M
Create E-mail Alert Related Categories
Mergers and Acquisitions, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
