SD Biosensor and SJL Partners Entered into a Definitive Merger Agreement to Acquire Meridian for ~$1.53B
Shots:
- SD Biosensor & SJL Partners (collectively, "Consortium") to acquire 100% of the outstanding shares of Meridian for ~$1.53B. Meridian shareholders will receive $34.00/share in cash representing a premium of ~32% over Meridian's closing stock price before SD & SJL's first offer on Mar 2022 & a premium of 16% based on the 1mos. avg. price/share of common stock. The transaction is expected to close in Q4’22
- Following the completion of the transaction, SDB will own ~60% & SJL will own the remaining ~40% of Meridian whereas Meridian will no longer be traded or listed on any public securities exchange
- Meridian's executive team & Cincinnati headquarters are expected to remain in place as part of the consortium's plan to run Meridian as a stand-alone business
Ref: PRNewswire | Image: Meridian Bioscience
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
