Cardinal Health begins subsequent offering for Viasys

By Lisa Kerner

Charlotte, N.C., June 21 - Cardinal Health, Inc. said 27.4 million shares, or more than 80%, of the outstanding shares of Viasys Healthcare Inc. have been tendered in its offer for the company that ended June 20.

All shares that were validly tendered and not withdrawn have been accepted for purchase at $42.75 per share.

Cardinal Health and its wholly owned subsidiary, Eagle Merger Corp., began a subsequent offering period slated to end at 6 p.m. ET on June 27 for remaining Viasys shares at the $42.75 price per share.

The company said it expects to acquire the remaining Viasys shares and complete the acquisition by June 30, after which Viasys will become a wholly owned subsidiary of the company.

Viasys and Cardinal Health announced merger plans on May 14. The transaction was valued at approximately $1.5 billion including debt.

"Now that Viasys is part of Cardinal Health, we are ready to move forward and bring our combined offerings to global customers," Cardinal Health chief executive officer R. Kerry Clark said in a company news release. "Viasys is a great strategic fit with Cardinal Health that expands our global presence and provides a new channel to accelerate growth from our other core businesses."

Viasys is a research-based medical technology company based in Conshohocken, Pa., and Cardinal Health is a Dublin, Ohio, medical and surgical products company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.