Bidding war for Carestream heats up | Wall Street Beat

March 29, 2013 by Brad Perriello

Private equity players Bain Capital, Carlyle Group and KKR & Co. are in the hunt for medical device company Carestream, said to be on the auction block for up to $3.5 billion.

MassDevice.com Wall Street Beat

At least 5 major private equity players are vying for medical device company Carestream Health, including Bain Capital, Carlyle Group and KKR & Co., according to Reuters.

Onex Corp. is hoping to unload Carestream, formed in the 2007 spinout of Eastman Kodak Co.'s healthcare business, for up to $3.5 billion, the news service reported.

The other LBO players said to be in the hunt by "people familiar with the matter" include Thomas H. Lee Partners and Hellman & Friedman, Reuters reported.

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The bidding is past the 1st round, according to the anonymous sources, 1 of whom said Canadian private equity shop Onex bought Carestream from Kodak for $2.35 billion. Bidders' valuations range from $2.7 billion to $3.5 billion, according to the news service.

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