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Kinetic Concepts gets tenders for more than 91% of LifeCell shares; subsequent offer ends Friday
By Lisa Kerner
Charlotte, N.C., May 19 - Kinetic Concepts, Inc. said approximately 31.25 million shares, or 91.3%, of LifeCell Corp. common stock were tendered in Kinetic Concepts' initial $51-per-share tender offer that ended May 16.
Leopard Acquisition Sub, Inc. accepted for purchase all shares that were validly tendered and not withdrawn during the offer, according to a Kinetic Concepts news release.
Kinetic Concepts began a subsequent offering period for the remaining shares of LifeCell that ends at 5 p.m. ET on May 23.
Following the merger, LifeCell's common stock will cease trading on the Nasdaq Global Market.
On April 7, Kinetic Concepts announced it would acquire LifeCell for $1.7 billion.
It was previously reported that following the acquisition, LifeCell will operate as a new global biosurgery division within Kinetic Concepts led by current LifeCell president Paul Thomas, who will also join Kinetic Concepts' executive committee.
Kinetic Concepts is a San Antonio medical technology company specializing in advanced wound care and therapeutic support systems.
LifeCell provides biological products for soft tissue repair, including its Alloderm regenerative tissue matrix for plastic reconstructive, general surgical, burn and periodontal procedures. The company is located in Branchburg, N.J.
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