Fresenius set to close merger with APP Pharmaceuticals

By Lisa Kerner

Charlotte, N.C., Sept. 9 - Fresenius Kabi said that financing for its acquisition of APP Pharmaceuticals, Inc. is secured and that the transaction's close is "imminent."

In July, APP agreed to be acquired by Fresenius Kabi - which is a business segment of Fresenius SE - for $3.7 billion in cash, or $23 per share, including the assumption of outstanding debt.

The Federal Trade Commission already granted early termination of the Hart-Scott-Rodino waiting period, and the German antitrust authorities granted their approvals, it was previously reported.

Fresenius said its offer for AAP includes a contingent value right that could deliver up to an additional $970 million, or $6 per share, if APP meets certain financial targets.

APP is a fully integrated pharmaceutical company specializing in injectable pharmaceutical products for the oncology, anti-infective, anesthetic/analgesic and critical-care markets. The company is based in Schaumburg, Ill.

Fresenius is a health-care group located in Frankfurt, Germany, that provides products and services for dialysis, hospital and outpatient medical care.

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