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Notable Mergers and Acquisitions of the Day 9/3: SEPR, ABT, JAVA/ORCL, TMO


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September 3, 2009 10:14 AM EDT
  • As was rumored mid-day Wednesday, Japan's Dainippon Sumitomo Pharma Co., Ltd. and Sepracor Inc. (Nasdaq: SEPR) today announced that they have entered into a definitive agreement pursuant to which DSP will acquire Sepracor for approximately $2.6 billion through a cash tender offer of $23.00 per share, followed by a merger to acquire all remaining outstanding Sepracor shares at the same price paid in the tender offer.

    Under the terms of the definitive agreement, DSP will commence a tender offer no later than September 15, 2009 to purchase all of the outstanding shares of Sepracor common stock for $23.00 per share in cash.

    The companies expect the tender offer to close in the fourth quarter of 2009.

    Sepracor ramped 26% mid-day yesterday as reports first broke, closing at $22.80.

  • Abbott (NYSE: ABT) announced today a definitive agreement to acquire Visiogen, Inc. for $400 million in cash, providing the company with a next-generation accommodating intraocular lens technology to address presbyopia for cataract patients.

    Visiogen, a privately held company based in Irvine, Calif., with European operations in Karlsruhe, Germany, is an ophthalmic medical device company specializing in the development of new vision alternatives for patients with cataracts.

    "This acquisition demonstrates Abbott's continued commitment to vision care and our desire to introduce and accelerate technologies that have the ability to make a difference in the lives of millions of people around the world," said John M. Capek, executive vice president, Medical Devices, Abbott. "Combining Visiogen's accommodating lens technology with Abbott's existing medical optics portfolio expands our ability to offer a diverse set of refractive options to our ophthalmic customers and the patients they serve."

    "We are thrilled to join forces with Abbott to bring this much-anticipated technology to market," said Reza Zadno, founder, CEO and president of Visiogen, Inc. "The global clinical results with Synchrony(R) are extremely encouraging, and the opportunity to leverage Abbott Medical Optics' extensive commercialization infrastructure means that many more patients will benefit from this exciting advancement in cataract and presbyopia correction."

  • Shares of Sun Microsystems Inc. (NASDAQ: JAVA) are 2.4% lower this morning after the European Commission has decided to seek more information regarding Oracle's (NASDAQ: ORCL) acquisition of the company. Volume in JAVA is already 19 million shares, above the 3-month average of 13 million shares, suggesting traders may be unwinding or adjusting their arbitrage positions.

    According to the Wall Street Journal, the commission said it has "serious concerns" that the deal between Oracle, the world's second-largest software maker, and Sun Microsystems might lead to reduced competition in the market for computer databases.

    Shareholder and the U.S. Department of Justice have already approved Oracle's proposed acquisition of Sun Microsystems.

  • Thermo Fisher Scientific Inc. (NYSE: TMO) signed a definitive agreement to acquire B.R.A.H.M.S. AG for approximately $470 million.

    B.R.A.H.M.S. is a leading provider of specialty in-vitro diagnostic tests based on its patented biomarkers for sepsis, cardiovascular and pulmonary diseases, as well as intensive care treatments and prenatal screening.

    Thermo Fisher said the transaction is expected to be accretive to earnings per share in 2010.
To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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