Companies: Dentsply/Astra Tech
Value: $1.8 billion
Scoop: Over the summer, Dentsply ($XRAY) emerged as the winner in the bid to buy AstraZeneca's Astra Tech unit. York, PA-based Dentsply agreed to buy the unit for about $1.8 billion in cash. Initially, about 20 bidders had expressed interest in the company.
Mölndal, Sweden-based Astra Tech's 2010 revenues topped $535 million. Its device business focuses mainly on urology and surgery products, while its dental division is the world's third-biggest after Straumann and Nobel Biocare.
Miller Tabak's Les Funtleyder said the buy would strengthen Dentsply's leading position in the global dental market. "It gets them into a fast-growing area where they haven't really had the kind of presence they've had in some of their other lines of business," he said, as quoted by Reuters.
Dentsply said in an August 2011 statement that the transaction will add about $200 million to the company's net sales in 2011 and $600 million on an annualized basis.