Ontario Teachers Said to Near $1.3 Billion Heartland Deal

Ontario Teachers’ Pension Plan is nearing a deal to buy Heartland Dental Care Inc. that values the company at about $1.3 billion, outbidding traditional leveraged-buyout funds, said people with knowledge of the matter.

The Canadian retirement fund may be prepared to announce an agreement with Effingham, Illinois-based Heartland as soon as today, said the people, who spoke on condition of anonymity because the talks are private. KKR & Co., Madison Dearborn Partners LLC, and Apax Partners LLP had also pursued an acquisition of Heartland, one of the people said.