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Talecris To Be Acquired for $3.4 Billion

Talecris, the biotherapeutics company, has reached an agreement to be acquired by Grifols, a Spanish health care company, for cash and stock of $3.4 billion.

RESEARCH TRIANGLE PARK, N.C. (

TheStreet

) --

Talecris

(TLCR)

, the biotherapeutics company, has reached an agreement to be acquired by

Grifols

, a Spanish health care company, for cash and stock of $3.4 billion.

Grifols, a leading producer of plasma protein therapies, said Monday the deal would create "a global leader of lifesaving and life-enhancing plasma protein therapeutics."

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Grifols will acquire all the common shares of Talecris for $19 in cash and 0.641 newly issued non-voting Grifols shares for each Talecris share. The deal values Talecris shares at $26.16, a premium of 53% to the average closing price of Talecris common stock over the last 30 days.

Talecris shares closed Friday at $15.91.

The total value of the acquisition, including net debt, is about $4 billion.

The combined company will have pro forma annual revenue of about $2.8 billion with 58% coming from North America, 28% from Europe and 14% from the rest of the world, the companies said in a press release Monday.

-- Reported by Joseph Woelfel in New York.

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