Home Diagnostics Bought for 90% Premium
FORT LAUDERDALE, Fla. (
) --
Home Diagnostics
(HDIX)
has reached an agreement to be acquired for $11.50 a share, a premium of 90% to its closing stock price on Tuesday, by Japan's
Nipro
.
The total purchase price is $215 million. Home Diagnostics share closed Tuesday at $6.05.
The boards of both companies have approved the deal.
Shareholders owning about 15% of Home Diagnostics' have agreed to tender their shares to the Nipro offer, Home Diagnostics said in a press statement Wednesday.
Home Diagnostics is a maker of diabetes testing supplies. Nipro makes medical devices, drug products and medical and glass products.
The tender offer is expected to begin next week.
-- Reported by Joseph Woelfel in New York.
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