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Siemens Hearing Instruments is up for sale

Siemens is selling its hearing aid business. It has shortlisted one strategic buyer and five private equity firms as potential buyers. The New York Times reports that the sale price could be over 2 billion euros (1.8 billion pounds).

Siemens Hearing, which competes with Switzerland’s Sonova Holding and Denmark’s William Demant Holding A/S, is projected to make pre-tax earnings of some 170 million euros in 2010.

Seen on the New York Times.