Healthcare technology company Analogic Corp (ALOG.O) said on Tuesday it had agreed to be bought by private equity firm Altaris Capital Partners LLC for about $1.1 billion in cash.
The offer price of $84 per share is at a discount of 12 percent to the company’s Tuesday’s close.
However, Analogic said the deal represents a 25 percent premium to the closing price of $67.45 on June 7, 2017, when it announced its plans to review strategic options.
Analogic’s imaging technologies are used in CT and MRI scans as well as automated threat detection systems for aviation security.
The deal, which is expected to close by mid-2018, was approved by the company’s board, the company said.
Citigroup Global Markets Inc served as financial adviser to Analogic and Wilmer Cutler Pickering Hale and Dorr LLP was its legal counsel. Schiff Hardin LLP served as legal counsel to Altaris.
Analogic’s stock was halted in extended trading.
Source: https://www.pehub.com/2018/04/analogic-taken-private-altaris-capital-1-1-billion-deal-reuters/
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