MTS Medication (MTSI) Agrees To Be Acquired For $5.75/Share

August 10, 2009 6:51 AM EDT

MTS Medication Technologies, Inc. (NASDAQ: MTSI) entered into a definitive merger agreement to be acquired for $5.75 per share in cash by an affiliate of Excellere Partners, LLC, a Denver, Colorado based private equity firm.

MTSI closed at $5.70 per share on Friday.

Following the unanimous recommendation and approval of a Special Committee of independent directors, the full Board of Directors of MTS has approved the merger agreement and has recommended to the Company's stockholders that they adopt and approve the merger agreement.

Under the terms of the merger agreement, 100% of the issued and outstanding common stock of MTS will be acquired by Excellere Partners' newly formed affiliate, MedPak Holdings, Inc., in exchange for the per share cash consideration, or, with respect to a portion of the shares held by Todd E. Siegel, the Company's President and Chief Executive Officer, and certain other members of the Company's senior management team, shares of capital stock of MedPak Holdings.

Related Categories

Mergers and Acquisitions

Stocks Mentioned

Related Entities

• Excellere Partners

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?