ARTICLE | Company News

Cryo-Cell deal

September 27, 2010 7:00 AM UTC

Cryo-Cell said is received an unsolicited, non-binding offer from private equity firm DW Healthcare Partners to acquire all outstanding shares of the biotech for $1.50 per share in cash, or $17.6 million based on 11.8 million shares outstanding at July 10. The price is a 67% premium to Cryo-Cell's close of $0.90 on Sept. 10, before the offer was announced. Cryo-Cell directors, which unanimously rejected the offer, said the proposal was "inadequate" and "significantly undervalues the company." ...