Zimmer, Biomet Said To Be Among Astra Tech Bidders -Bloomberg

Zimmer Holdings Inc. (ZMH) and Biomet Inc. (BMET) are among the bidders for AstraZeneca PLC's (AZN) Astra Tech, a Swedish unit that makes dental implants and medical devices, Bloomberg News reported Thursday, citing two people with direct knowledge of the matter.

Nobel Biocare Holding AG (NOBN.VX), Straumann Holding AG (STMN.EB), Dentsply International Inc. (XRAY) and buyout firms Cinven Ltd. and Nordic Capital also are involved in the sale, along with other device makers and private-equity firms, the sources said. Advent International Corp., a private-equity firm based in Boston, has pulled out of the race, one of the people told Bloomberg.

Sale underwriter JPMorgan Chase & Co. (JPM) in February sent information about Astra Tech to prospective buyers, with first-round bids due this week, one of the sources said. The lineup for the auction's second round should be clearer by the end of next week, they said.

The unit could be sold whole or in parts, they said. It might fetch between $1.8 billion and $2.1 billion, analysts at Sanford C. Bernstein wrote in a Nov. 17 note.

Representatives of Nobel, Zimmer, Biomet and Dentsply didn't immediately return calls seeking comment, Bloomberg said. Officials at Cinven and Advent declined to comment. A spokesman for Nordic Capital couldn't immediately be reached.

Straumann Chief Executive Beat Spalinger said Feb. 15 that his Basel, Switzerland, company would consider acquisition opportunities, including Astra Tech. On Thursday, a Straumann spokesman declined to comment.

Full story at

http://www.bloomberg.com/news/2011-03-17/zimmer-biomet-nobel-said-to-be-among-bidders-for-astrazeneca-dental-unit.html

-Dow Jones Newswires; 212-416-2900