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BioForm Medical to Be Bought for $253M

SAN MATEO, Calif. ( TheStreet) -- BioForm Medical (BFRM) has agreed to be acquired by privately held Merz Pharma of Frankfurt for $5.45 a share in cash, of a total of $253 million.

The purchase price is a 60% premium over BioForm's closing price on Dec. 31, 2009, of $3.40 a share, and a 55% premium over BioForm Medical's 30-day average closing stock price.

BioForm's main product is the Radiesse dermal filler. Merz is involved in aesthetic medicine.

The transaction is expected to close in the first quarter.

-- Reported by Joseph Woelfel in New York.

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