Dentsply International and Sirona Dental Systems are to merge, creating the world's largest maker of professional dental products with a value of about $13.3 billion, it was announced by the companies on Tuesday. The merger will involve shares in the companies only, no cash. Sirona shareholders will receive 1.8142 shares of Dentsply for each Sirona share. The combined entity is expected to have revenue of about $3.8 billion and adjusted earnings before interest, taxes, depreciation, and amortization of more than $900 million. Shares of Dentsply were up 1.4% while Sirona shares rose 1.2% during regular session but both were halted in after-hours trade pending news of the merger.
The new company will be named Dentsply Sirona. This ewas announced on NASDAQ, the exchange where both company shares are traded.
Read more: Dentsply and Sirona to merge