Astra Tech acquisition by Dentsply approved by regulators

Astra Tech's planned acquisition by fellow dental products manufacturer Dentsply has been officially ratified by regulatory bodies.

The relevant national competition authorities have informed Dentsply of their approval of the company's intention to purchase all shares of Astra Tech, which is currently owned by AstraZeneca.

A takeover deal was agreed between the two companies in June 2011 for a price of $1.8 billion (1.1 billion pounds), with the acquisition now set to be concluded on August 31st.

The acquired company consists of the Astra Tech Dental and Astra Tech Healthcare divisions and operates in the fields of dental implant and urology products.

Once the merger is complete, it will create the third-largest dental implants business of its kind in the world.

Commenting on the deal earlier this year, AstraZeneca chief executive officer David Brennan said: "Following a comprehensive strategic review, we believe this transaction represents an excellent outcome for AstraZeneca shareholders."