5/24/2013 7:42:05 AM
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Toshiba Corp and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) are among those expected to bid for Panasonic Corp's healthcare business, financial sources with knowledge of the matter said. Panasonic is looking to raise as much as $1 billion by selling shares in the healthcare unit, whose products include blood sugar monitoring equipment, hearing aids and electronic medical record-keeping systems. The company, which is being advised by Bank of America Merrill Lynch on the sale, has set a deadline of Monday for first-round bids, according to the sources who spoke on condition of anonymity because the bidding is not public.
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