Endo Pharmaceuticals (ENDP) Acquires American Medical Systems (AMMD) for $2.9 Billion
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American Medical Systems (Nasdaq: AMMD) entered into a definitive agreement to be acquired by Endo Pharmaceuticals (Nasdaq: ENDP) for $30 per share, or $2.9 billion in cash.
The deal comes at a 34 percent premium to American Medical Systems close Friday of $22.33 per share.
Transaction expected to be immediately accretive to adjusted diluted earnings per share upon close and accretive by $0.60 in 2012.
Commenting on today's transaction, Dave Holveck, President and Chief Executive Officer of Endo, said, "This acquisition is a great step in achieving Endo's core strategy. We are creating a company uniquely positioned to respond to the changing healthcare environment and the competitive, rapidly consolidating industry landscape. Through the acquisition of AMS, we will gain scale in devices and services, and will be positioned as a leading provider of healthcare solutions in the field of pelvic health, with a full spectrum of product offerings ranging from pharmaceuticals to medical devices."
Morgan Stanley and BofA Merrill Lynch have provided fully committed financing to Endo to close this transaction.
The deal comes at a 34 percent premium to American Medical Systems close Friday of $22.33 per share.
Transaction expected to be immediately accretive to adjusted diluted earnings per share upon close and accretive by $0.60 in 2012.
Commenting on today's transaction, Dave Holveck, President and Chief Executive Officer of Endo, said, "This acquisition is a great step in achieving Endo's core strategy. We are creating a company uniquely positioned to respond to the changing healthcare environment and the competitive, rapidly consolidating industry landscape. Through the acquisition of AMS, we will gain scale in devices and services, and will be positioned as a leading provider of healthcare solutions in the field of pelvic health, with a full spectrum of product offerings ranging from pharmaceuticals to medical devices."
Morgan Stanley and BofA Merrill Lynch have provided fully committed financing to Endo to close this transaction.
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