Immucor (BLUD) Acquired by TPG Capital in Nearly $2 Billion Deal
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Immucor, Inc. (Nasdaq: BLUD) announced Tuesday that it entered into a definitive agreement to be acquired by TPG Capital for $27 per share in cash, or $1.973 billion.
The takeover comes at a premium of approximately 30.2 percent over the closing share price on July 1, 2011.
The agreement was unanimously approved by the Immucor Board of Directors and is expected to close in the second half of 2011.
"This transaction enables our shareholders to realize significant, immediate value while at the same time allowing Immucor to remain well-positioned to continue pursuing growth opportunities," said Joseph Rosen, Chairman of the Board of Directors of Immucor. "Our Board is pleased with the outcome of the process we followed leading to this transaction, and believes that this transaction is in the best interests of our shareholders."
Goldman, Sachs & Co. acted as financial advisor to Immucor, Inc. and King & Spalding LLP acted as the Company's legal advisor. Ropes & Gray LLP acted as legal advisor to TPG Capital. Citi and J.P. Morgan Securities LLC acted as financial advisors and provided fully committed financing to TPG Capital.
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The takeover comes at a premium of approximately 30.2 percent over the closing share price on July 1, 2011.
The agreement was unanimously approved by the Immucor Board of Directors and is expected to close in the second half of 2011.
"This transaction enables our shareholders to realize significant, immediate value while at the same time allowing Immucor to remain well-positioned to continue pursuing growth opportunities," said Joseph Rosen, Chairman of the Board of Directors of Immucor. "Our Board is pleased with the outcome of the process we followed leading to this transaction, and believes that this transaction is in the best interests of our shareholders."
Goldman, Sachs & Co. acted as financial advisor to Immucor, Inc. and King & Spalding LLP acted as the Company's legal advisor. Ropes & Gray LLP acted as legal advisor to TPG Capital. Citi and J.P. Morgan Securities LLC acted as financial advisors and provided fully committed financing to TPG Capital.
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