Medical-Testing Agency Meridian Agrees to $1.5 Billion Takeover


(Bloomberg) — Medical-testing firm Meridian Bioscience Inc. agreed to be bought for $1.53 billion by a consortium led by Seoul-based system maker SD Biosensor Inc. 

Below the proposed phrases of the transaction, an affiliate shaped by SD Biosensor and private-equity agency SJL Companions LLC pays Cincinnati-based Meridian’s shareholders $34 a share in money, the businesses mentioned Thursday in an announcement. The deal is topic to approval by Meridian shareholders.

The value represents a premium of about 32% in contrast with Meridian’s closing inventory value on the day earlier than the consortium’s first supply earlier than the market open on March 18, in line with the assertion. 

After Covid-19 raised demand for testing companies worldwide, corporations at the moment are in search of profitable longer-term methods because the disaster recedes. The deal will assist SD Biosensor entry the US market, whereas giving Meridian experience to develop new merchandise, the businesses mentioned.

“SD Biosensor’s R&D capabilities and mass manufacturing know-how, Meridian Bioscience’s US distribution community and experience within the regulated U.S. market, and SJL Companions’ sturdy administration experience will allow compelling synergies,” SD Biosensor Chairman Younger Shik Cho mentioned within the assertion. 

The businesses mentioned within the assertion that Meridian would proceed to function as an impartial entity after the deal is accomplished, and that its management was anticipated to stay in place.

 

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