Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Royal DSM To Buy Kensey Nash For $38.5/Shr - Quick Facts

Royal DSM (RDSMY.PK) has reached a definitive agreement with Kensey Nash Corp. (KNSY: Quote), pursuant to which DSM would acquire Kensey Nash through a cash tender offer, followed by a merger with an unit of DSM, for $38.50 in cash per share for total enterprise value of around $360 million. The agreed price represents a premium of 33% to Kensey Nash's closing share price of $29.01 on May 2, 2012. The transaction may be complete around the end of second quarter of 2012.

Kensey Nash's board has unanimously recommended its stockholders to accept the offer and tender their shares into the offer when it is made. The tender offer is expected to begin in May. The transaction is not subject to a financing condition, and DSM plans to finance the acquisition from existing cash. DSM anticipates the transaction to be accretive to earnings from 2013 onwards.

Click here to receive FREE breaking news email alerts for Royal DSM N.V. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.