Kimberly-Clark set to close acquisition of I-Flow; tender offer ends

By Lisa Kerner

Charlotte, N.C., Nov. 24 - I-Flow Corp. stockholders tendered approximately 22,407,901 shares, or about 90.8% of the company's outstanding shares, in Kimberly-Clark Corp.'s $12.65-per-share cash offer, according to a Kimberly-Clark news release.

The original tender offer ended on Nov. 18, and the subsequent offering period ended on Monday.

Kimberly-Clark said all validly tendered shares have been accepted for payment, and the company expected to complete the acquisition of all remaining shares of I-Flow through a merger by the end of Tuesday.

As previously reported, the merger transaction is valued at about $276 million, net of acquired cash and cash equivalents.

Dallas-based Kimberly-Clark is a consumer products manufacturing company.

I-Flow is a biotechnology company based in Lake Forest, Calif., that develops drug-delivery systems.

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