Healthcare & Pharmaceuticals

TA Associates makes $2.8 bln takeover approach for Smiths Group unit - Mail on Sunday

1 minute read

July 11 (Reuters) - U.S. private equity firm TA Associates has made a 2 billion pounds ($2.78 billion) takeover approach for the medical division of Smiths Group Plc (SMIN.L), which makes ventilators for hospitals, the Mail on Sunday reported.

A successful sale would see Smiths Group, which is valued at 6.5 billion pounds and has 23,100 staff, effectively broken up, the report added, citing sources.

Smiths Group has been holding talks with Boston-based TA Associates and bankers from Goldman Sachs (GS.N) are said to be working on the deal, according to the report, which said talks were at an advanced stage.

TA Associates and Smiths Group were not immediately available for comment.

($1 = 0.7194 pounds)

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Reporting by Kanishka Singh in Bengaluru; editing by Richard Pullin

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