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
Luxury coat maker Canada Goose Inc. Is reportedly planning for an initial public offering or IPO within next three months. The Toronto based winter-apparel maker aims for a valuation of up to $2 billion and to raise up to $300 million through IPO. France-based optical-lens maker Essilor International SA (EL), Delfin and Ray-Ban maker Luxottica Group (LUX) Monday announced their plan to merge in a deal valued around $49 billion. Essilor would become a holding company with the new name "EssilorLuxottic." Uncertainty has become the name of the game, as the new president is set to assume office. Groundwork is being done for major policy overhauls, with the first step towards repealing the Obamacare taken, as Senators voted 51-48 to approve a budget resolution for achieving the same. The House is set to...
comments powered by Disqus
Follow RTT