C.R. Bard (NYSE:BCR) closed its $262 million acquisition of Rochester Medical yesterday, giving former Rochester stockholders $20 per share and taking ROCM shares off the NASDAQ exchange.
The deal for Stewartville, Minn.-based Rochester represents a 37% premium over ROCM’s average closing price during the 3 months ended Sept. 2, 2013, the day before the merger was announced.
Several Bard executives are now the directors and executives of Rochester Medical now that it’s a wholly-owned Bard subsidiary, according to a regulatory filing.
That means Bard CFO Christopher Holland, treasurer Scott Lowry, COO John Weiland, Bard Medical president Peter Curry, general counsel Jean Holloway are the new Rochester Medical board.
The acquisition in Bard’s 2nd multi-million-dollar deal in recent weeks. In August Bard agreed to pay $200 million up front and another possible $80 million for Medafor and its line of anti-bleeding agents, closing the deal in October.
