Dentsply International has received regulatory approval from the relevant national competition authorities to proceed with the acquisition of Astra Tech, a provider of dental implant and urology products, from AstraZeneca.
The previously announced transaction is now expected to close on August 31, 2011. The company had originally expected to finalize the deal by year's end.
Dentsply is selling $1 billion in debt securities to help fund the $1.8 billion acquisition. The company is offering $250 million in senior notes due in 2013, $300 million due in 2016, and $450 million due in 2021.
The deal is expected to make Dentsply the third-leading supplier of dental implants worldwide, behind Straumann and Nobel Biocare.
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