Baxter International Inc. and Synovis Life Technologies Inc. announced a definitive agreement for Baxter to acquire Synovis.
The acquisition expands the portfolio of Baxters regenerative medicine and biosurgery franchise, which includes devices and biological products for hemostasis, tissue sealing, and adherence.
The Synovis board of directors unanimously approved the transaction and is recommending that its shareholders approve the agreement at an offer price of $28 per share, which equates to $325 million of equity value or approximately $260 million after adjusting for the net cash.
Release Date: Dec. 13, 2011
Source: Baxter International Inc.
