Wall Street is abuzz with speculation about prospective buyers into Panasonic’s (NYSE:PC) healthcare business, with companies such as Toshiba Medical Systems (TYO:6502), Bain Capital and private equity firm Kohlberg Kravis Roberts & Co. rumored to be participating.
Panasonic is selling shares of its healthcare division, which develops hearing aids and blood glucose meters, among other technologies. The 1st round of bidding is set to close on Monday, according to anonymous sources cited by Reuters.
Panasonic has declined to comment on the rumors, but word is that the company will narrow its bidders down to 2 or 3 by June and conduct another round in July before selecting a single firm in August, according to Reuters.
Last year Panasonic was part of another high-profile rumor mill regarding a prospective investment into a troubled Olympus (PINK:OCPNY), which was then trying to recover from a high-profile accounting scandal that sheared its stock value, split its board and executive leaders and launched a slew of regulatory investigations.