logo
Share SHARE
FONT-SIZE Plus   Neg

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), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT