DSM acquire Kensey Nash $360 million

DSM to acquire Kensey Nash for $360 million

9:52 AM, 3rd May 2012
DSM to acquire Kensey Nash for $360 million
Feike Sijbesma, Chairman and CEO, DSM.

HEERLEN, THE NETHERLANDS: Royal DSM has entered into a definitive agreement with Kensey Nash under which DSM would acquire all the outstanding shares of common stock of Kensey Nash through a cash tender offer, followed by a merger with a subsidiary of DSM, for $38.50 in cash per share for total enterprise value of approximately $360 million. The purchase of Kensey Nash by DSM will strengthen and complement DSM Biomedical’s business and capabilities, while clearly meeting DSM’s financial and strategic criteria.

For DSM Biomedical the acquisition of Kensey Nash is an important step in realizing its strategic ambition to build strong positions in bio-passive, bio-active and bio-interactive materials. The acquisition will strengthen DSM Biomedical’s existing position in the market for bio-passive (medical coatings and polymers) and the emerging market for bio-active (resorbable polymers and drug delivery) materials. It will also provide DSM with a strong position and pipeline of new technologies in the developing field of regenerative medicine and tissue engineering.

“Biomedical is one of the key areas where DSM is able to fully leverage its unique science-based expertise in Life Sciences and Materials Sciences. With this acquisition, we are putting DSM Biomedical clearly on the map as the second new growth platform for DSM in addition to our Bio-based Products & Services business as we continue to create value for all stakeholders by providing innovative, sustainable solutions to the world’s greatest challenges,” said Feike Sijbesma, Chairman and CEO, DSM.

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