Nordion‘s stock came off the Toronto Stock Exchange this week after Sterigenics put a ribbon on the $826 million acquisition.
Sterigenics paid $13 in cash for each share of Nordion stock as agreed, but the final deal value came in $21 million higher than previously estimated. The price tag also reflects a 6% bump over Sterigenics’ original $12.25 per share offer, made in March.
Nordion is slated to continue operating under its own name from its headquarters in Ottawa, Canada, according to a company statement.
Sterigenics leadership welcomed its new subsidiary, saying that the deal makes the combined companies "the only vertically integrated sterilization company in the world." Nordion managers also lauded the deal, saying that the acquisition will expand the company’s portfolio, broaden its global footprint and boost customer service capabilities.