Grifols to acquire Talecris
Grifols S.A. (Madrid:GRF) plans to acquire fellow plasma protein company Talecris Biotherapeutics Inc. (NASDAQ:TLCR) in a cash and stock deal that the companies said values Talecris at $26.16 per share, or about $3.4 billion. The price is a 64% premium to Talecris' close of $15.92 on Friday, before the deal was announced. Each Talecris share will be exchanged for $19 in cash and 0.641 of a new non-voting Grifols share. Grifols will gain Talecris' marketed plasma-derived protein therapies, including immunodeficiency disorder drug Gamunex immune globulin IV, and expand its presence in the U.S. and Canada. Talecris reported $1.5 billion in 2009 revenue. Grifols expects the combined company to generate $230 million in operating synergies and pro-forma annual revenues of about $2.8 billion. ...