Cooper Co.'s (COO) Makes $189M Tender for Origio a/s
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The Cooper Companies, Inc. (NYSE: COO) has made a voluntary tender offer to acquire all the issued and outstanding shares and warrants of Origio a/s, Oslo Stock Exchange , for NOK 28 per share. The enterprise value of the transaction is approximately US$189 million, consisting of US$151 million in equity and approximately $38 million of net debt. The tender offer is set to expire June 22, 2012, unless the tender offer is extended.
Cooper, through its subsidiaries, plans to finance the acquisition with available off-shore cash and credit facilities. If the tender offer is successful, the transaction is anticipated to close during the fiscal third quarter 2012. Cooper expects this transaction, excluding one-time charges, to be neutral to fiscal 2012 earnings per share (EPS) and slightly accretive to fiscal 2013 EPS.
Cooper, through its subsidiaries, plans to finance the acquisition with available off-shore cash and credit facilities. If the tender offer is successful, the transaction is anticipated to close during the fiscal third quarter 2012. Cooper expects this transaction, excluding one-time charges, to be neutral to fiscal 2012 earnings per share (EPS) and slightly accretive to fiscal 2013 EPS.
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