The largest individual shareholder of Charles River Laboratories International Inc. (NYSE:CRL) has deep reservations about the company’s proposed acquisition of WuXi (Cayman) PharmaTech Inc. (NYSE:WX) and they’re not shy letting their position be known.
Mergers & Acquisitions
Millipore Corp. (NYSE:MIL) shareholders approved a $7.2 billion merger proposed by German pharmaceutical giant Merck KGaA (NYSE:MRK).
The $107-per-share deal, announced in February, would see Merck take on another $890 million in Millipore debt.
By Thomas Lee
Given Wall Street’s turmoil of late, it’s not too surprising that buyers would search for bargains, especially struggling medical device companies with promising technology and awful balance sheets. Case in point: Medtronic Inc.’s (NYSE:MDT) $370 million purchase of ATS Medical Inc..
The U.S. Dept. of Justice is investigating Oracle Corp.’s (NSDQ:ORCL) $685 million bid to acquire Phase Forward Inc. (NSDQ: PFWD), according to a filing with the Securities and Exchange Commission.
The Waltham, Mass.-based clinical trial data management provider said it received a “Request for Additional Information” May 27 from the Justice Dept., meaning an extension of the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, according to the filing.
Thermo Fisher Scientific Inc. (NYSE:TMO) agreed to spend $260 million in cash on Canadian lab supplies provider Fermentas International Inc.
Burlington, Ont.-based Fermentas, which runs its principal operation out of Vilnius, Lithuania, makes enzymes, reagents and molecular weight markers. The company, which employs about 500 workers, posted sales of about $55 million last year.
Medtronic Inc. (NYSE:MDT) plans to invest $70 million in neurostimulation device maker BioControl Medical Ltd., according to a report from an Israeli media outlet.
Virtual Radiologic Corp. (NSDQ:VRAD) is heading private in a $294 million acquisition, three years after its $68 million IPO.
Rhode Island-based private equity firm Providence Equity Partners agreed to buy out the radiology outsourcing firm, according to a press release (PDF).
By Mary Vanac
St. Jude Medical Inc. (NYSE:STJ) agreed to pay $90 million in cash for Westford, Mass.-based LightLab Imaging Inc.
Merit Medical Systems Inc. (NSDQ:MMSI) agreed to acquire BioSphere Medical Inc. (NSDQ:BSMD) for about $96 million in cash.
The deal for the Rockland, Mass.-based firm, at roughly $4.38 per share, represents a 54 percent premium over BioSphere’s $2.84 closing price May 12. Shares were up 5.6 percent to $2.00 in late-afternoon trading May 13.
By Thomas Lee
ATS Medical Inc. (NSDQ:ATSI) stock has been a dog for quite a while, never rising above $5 a share since 2004 after posting a high of $20 a share nine years ago. But some investors stand to profit handsomely from Medtronic Inc.’s (NYSE:MDT) proposed $370 million acquisition of the company.
By Thomas Lee
Medtronic Inc. (NYSE:MDT) plans to acquire ATS Medical Inc. (NSDQ:ATSI) for $370 million in cash and debt, a move that further expands the medical device giant’s foray into the fast-growing market for products that treat structural heart disease.
Fridley, Minn.-based Medtronic will pay $4 for each share of ATS Medical, headquartered in Plymouth, Minn.