By Lisa Kerner
Charlotte, N.C., Sept. 16 - Datascope Corp. said it agreed to be acquired by Getinge AB for $53 per share, or a reported $865 million.
Lawrence Saper, Datascope chairman, chief executive officer and an 18% stockholder, agreed to tender his shares in the offer, a company news release said.
The transaction is subject to customary conditions, including the tender of a majority of Datascope's outstanding shares, and is slated to close by the end of the year.
In the release, Saper said the transaction will deliver value to Datascope shareholders at a historic high for the Montvale, N.J., medical device company's stock.
In June, Datascope announced it would explore strategic alternatives after receiving expressions of interest following the sale of its patient-monitoring business to Mindray Medical International, Ltd. for $240 million.
Datascope was advised by Lehman Brothers.
Getinge is a medical device company based in Getinge, Sweden.
| Acquirer: | Getinge AB
|
| Target: | Datascope Corp.
|
| Announcement date: | Sept. 16
|
| Price per share: | $53.00
|
| Transaction total: | $865 million
|
| Expected closing: | End of 2008
|
| Stock price for target: | Nasdaq: DSCP: $49.23 on Sept. 15
|
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