SeraCare Life Sciences/Linden Capital Partners
On February 13, 2011, SeraCare Life Sciences, Inc. (Nasdaq: SRLS), entered into a definitive agreement to be acquired by an affiliate of Linden Capital Partners.
Under the terms of the agreement, holders of outstanding shares of common stock of SeraCare will receive $4.00 per share, representing a 25 percent premium to the 30-day volume-weighted average stock price. The agreement was unanimously approved by SeraCare's Board of Directors.
A special meeting of SeraCare's shareholders will be held after the preparation and filing of a proxy statement with the Securities and Exchange Commission and subsequent mailing to shareholders. If the merger is approved by shareholders, the transaction is expected to close in the second quarter of calendar year 2012. The transaction is subject to various closing conditions, including the receipt of regulatory approvals, but is not subject to a financing condition. Upon completion of the acquisition, SeraCare will become a private company, wholly owned by an affiliate of Linden.
Lazard is acting as exclusive financial advisor to SeraCare and has provided a fairness opinion to the SeraCare Board of Directors. Foley Hoag LLP is serving as SeraCare's outside counsel. William Blair & Company, L.L.C. is acting as Linden's financial advisor, and Kirkland & Ellis LLP is serving as legal counsel to Linden.
Under the terms of the agreement, holders of outstanding shares of common stock of SeraCare will receive $4.00 per share, representing a 25 percent premium to the 30-day volume-weighted average stock price. The agreement was unanimously approved by SeraCare's Board of Directors.
A special meeting of SeraCare's shareholders will be held after the preparation and filing of a proxy statement with the Securities and Exchange Commission and subsequent mailing to shareholders. If the merger is approved by shareholders, the transaction is expected to close in the second quarter of calendar year 2012. The transaction is subject to various closing conditions, including the receipt of regulatory approvals, but is not subject to a financing condition. Upon completion of the acquisition, SeraCare will become a private company, wholly owned by an affiliate of Linden.
Lazard is acting as exclusive financial advisor to SeraCare and has provided a fairness opinion to the SeraCare Board of Directors. Foley Hoag LLP is serving as SeraCare's outside counsel. William Blair & Company, L.L.C. is acting as Linden's financial advisor, and Kirkland & Ellis LLP is serving as legal counsel to Linden.
