German pharmaceutical and chemical company Bayer AG agreed to buy Possis Medical Inc. in a $361 million deal that will help Bayer expand its footprint in the field of cardiovascular health technology.
The all-cash deal, set to close later this quarter, is for $19.50 a share, a 36% premium to Friday's closing price for Possis of $14.35. The stock hasn't traded at $19.50 since 2004.
The proposed combination of Bayer's Medrad subsidiary and Possis will join a provider of systems used to diagnose cardiovascular and other diseases with a maker of devices used to treat narrowed or blocked arteries.
full article >> http://online.wsj.com/article/SB120273475957358689.html?mod=googlenews_wsj
Tuesday, February 12, 2008
Bayer to Buy Possis
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