This will be followed by a merger with a subsidiary of DSM, for $38.50 in cash per share for total enterprise value of approximately $360m.
The transaction has been unanimously approved by both DSM’s supervisory board and Kensey Nash’s board of directors.
The agreed price represents a premium of 33% to Kensey Nash’s closing share price of $29.01 on 2 May, 2012. Subject to customary conditions, the transaction is expected to close around the end of Q2 2012.
Kensey Nash is a US based, technology-driven biomedical company, primarily focused on regenerative medicine utilising its proprietary collagen and synthetic polymer technology.
It manufactures and sells medical device parts in cardiology, orthopedic, sports medicine, spinal and general surgery. The company is headquartered in Exton (Pennsylvania, USA) with approximately 325 employees.
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Source: DSM
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