Vascular Solutions Inc. announced Friday a deal to be acquired by Teleflex Inc. in a deal valued at $1 billion.
Under terms of the deal, Teleflex will pay $56 in cash for each Vascular share outstanding, a 1.6% premium to Thursday’s closing price of $55.10, which matched Wednesday’s record close.
The acquisition, which is expected to close in the first half of 2017, will be funded through the proceeds from one or more debt financings. Vascular’s stock, which was still inactive in premarket trade, has run up 60% year to date, while Teleflex shares have rallied 11% and the S&P 500 has gained 7.2%.
By Tom Kilgore
Source: MarketWatch
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