Royal DSM offers to buy Kensey Nash for about $350 million in cash
Deal is expected to expand DSM's footprint in the regenerative medicine business
Offer comes as DSM is revamping to become life sciences and materials business
Kensey Nash Agrees to Be Acquired by DSM for $38.50 per Share in Cash (press release)
Kensey Nash Corporation (Nasdaq: KNSY), today announced that it has entered into a definitive agreement with Royal DSM (DSM) (NYSE Euronext: DSM KON), under which DSM has agreed to acquire all of the common stock of Kensey Nash through a cash tender offer, followed by a merger with a subsidiary of DSM, for $38.50 per share in cash.
"We are very pleased to have entered into the merger agreement with DSM, as the transaction will deliver significant value to our stockholders. The price to be paid to our stockholders represents a premium of 33% over our closing price on May 2, 2012," said Joe Kaufmann, President and Chief Executive Officer. "When completed, the transaction will also be a great event for our strategic partners, customers and employees. DSM is a global Life Sciences and Materials Sciences company with sales around euro 9 billion an...
