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TPG Capital buying Immucor for $1.97B in cash
Author: Bioscience Technology Staff
Source From: Bioscience Technology
Posted Date: 2011-07-05
Blood-testing equipment maker Immucor Inc. says it agreed to be acquired by TPG Capital in a deal worth $1.97 billion, or $27 per share in cash.
Immucor says its board unanimously approved the deal, and the Norcross, Ga., company says the sale should close in the second half of 2011. The private investment firm is offering a 30.3-percent premium to the most recent closing price of Immucor shares. The deal requires regulatory approval and the support of the owners of at least 84 percent of Immucor's shares.
Immucor says it can seek other buyout proposals until Aug. 15.
Immucor changed chief executives last month, as President and CEO Gioacchino De Chirico left the company and was replaced by Joshua Levine.
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