Kimberly-Clark To Buy Medical Device Maker I-Flow
DALLAS (AP) ¿ Boxer Acquisition Inc., a subsidiary of consumer products maker Kimberly-Clark Corp., said it would buy all remaining shares of I-Flow Corp. Tuesday, now that shareholders have tendered ¿ and Kimberly Clark has bought ¿ 90.8 percent of I-Flow's common shares.
I-Flow makes drug delivery devices and surgical products like pumps and catheters.
The tender offer deadline was Monday, and Kimberly-Clark has bought all the shares that were tendered. The remaining shares will be worth $12.65 per share in cash without interest and less any withholding taxes, the same amount as the tender offer.
I-Flow will become a part of Kimberly-Clark Health Care and I-Flow shares will no longer trade on the Nasdaq.Shares of Kimberly-Clark, based in Dallas, fell 15 cents to $65.53 in afternoon trading.
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