Deals
Smiths Group’s Sale of $3 Billion Medical Unit Stalls
- U.K. company failed to reach agreement on price with bidders
- Smiths may now spin off unit into separate listed company
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Smiths Group Plc’s attempt to sell its $3 billion medical-equipment unit has stalled after it failed to reach an agreement on price, people familiar with the matter said.
Several bidders dropped out of the process and are no longer actively pursuing the business, according to the people, who asked not to be identified because the information is private. Smiths Group is considering proceeding with its original plan to spin off the unit into a separate listed company, the people said, asking not to be identified because the information is private.