Teleflex (TFX) to Acquire Laryngeal Mask Market Leader LMA Int'l in $276M Deal
Tweet Send to a FriendGet Alerts TFX Hot Sheet
Up)
Trade TFX Now!
Teleflex Incorporated (NYSE: TFX), has signed a definitive agreement to acquire substantially all of the assets of LMA International N.V. (OTCBB: LMINF) for SGD 343.5 million in cash, which at current exchange rates translates into approximately $276 million. LMA is a global market leader in laryngeal masks with a portfolio of innovative products used extensively in anesthesia and emergency care. The proposed acquisition will expand Teleflex’s anesthesia franchise, and will bring to the Company a leading worldwide position in laryngeal masks. LMA reported revenue of $123.9 million in its latest fiscal year ended December 31, 2011.
Incorporated in Curaçao in 1998, LMA is listed on the Mainboard of the Singapore Exchange. LMA has offices in Jersey, Channel Islands and Singapore, wholly-owned manufacturing facilities in Utah, USA and Malaysia and subsidiaries with direct selling functions in the USA, Canada, Australia, New Zealand, Germany, Italy and Singapore.
The Board of Directors of both Teleflex and LMA have approved the proposed transaction, which is subject to LMA shareholder approval, regulatory approvals and other customary closing conditions.
In separate transactions, the Company also announced it signed definitive agreements with the shareholders of Intavent Direct Limited (“IDL”) and affiliates to acquire the LMA branded laryngeal mask supraglottic airway business and certain other products in the United Kingdom, Ireland and Channel Islands. The business reported revenue of $8.2 million in its latest fiscal year ended December 31, 2011.
Collectively, the transactions are expected to be accretive to Teleflex’s adjusted earnings per share by approximately $0.03 to $0.04 in fiscal year 2012, and $0.35 to $0.40 in fiscal year 2013, excluding non-recurring purchase accounting items and other acquisition and integration related costs.
The transactions are expected to be completed during the fourth quarter of 2012.
Brown Brothers Harriman & Co. is acting as financial advisor and Simpson Thacher & Bartlett LLP is acting as legal counsel to Teleflex in the transaction.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Incorporated in Curaçao in 1998, LMA is listed on the Mainboard of the Singapore Exchange. LMA has offices in Jersey, Channel Islands and Singapore, wholly-owned manufacturing facilities in Utah, USA and Malaysia and subsidiaries with direct selling functions in the USA, Canada, Australia, New Zealand, Germany, Italy and Singapore.
The Board of Directors of both Teleflex and LMA have approved the proposed transaction, which is subject to LMA shareholder approval, regulatory approvals and other customary closing conditions.
In separate transactions, the Company also announced it signed definitive agreements with the shareholders of Intavent Direct Limited (“IDL”) and affiliates to acquire the LMA branded laryngeal mask supraglottic airway business and certain other products in the United Kingdom, Ireland and Channel Islands. The business reported revenue of $8.2 million in its latest fiscal year ended December 31, 2011.
Collectively, the transactions are expected to be accretive to Teleflex’s adjusted earnings per share by approximately $0.03 to $0.04 in fiscal year 2012, and $0.35 to $0.40 in fiscal year 2013, excluding non-recurring purchase accounting items and other acquisition and integration related costs.
The transactions are expected to be completed during the fourth quarter of 2012.
Brown Brothers Harriman & Co. is acting as financial advisor and Simpson Thacher & Bartlett LLP is acting as legal counsel to Teleflex in the transaction.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
- Cisco Systems (CSCO) Tops Q3 EPS by 2c; Gross Margin Widens
- Morgans Hotel Group (MHGC) Clarifies Yucaipa Statements
Create E-mail Alert Related Categories
Mergers and AcquisitionsRelated Entities
Brown Brothers Harriman, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
