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Health and Healthcare

Another Medical Company Goes To Europe… Kensey Nash Buyout At All-Time High (KNSY)

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By Jon C. Ogg Updated Published
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Kensey Nash Corporation (NASDAQ: KNSY) is well-known for its regenerative tissue materials, but it is soon going to be known under a new name or at least with a new owner rather than Joe Public via the stock market.  The company has agreed to be acquired by Royal DSM for $38.50 per share in an all-cash premium buyout.

DSM, a Life Sciences and Materials Sciences company with sales of about 9 billion Euros per year and with about 22,000 employees, has agreed to acquire all of the common stock of Kensey Nash under a routine cash tender offer of $38.50 per share in cash.  The tender offer for the Kensey Nash shares is currently expected to be completed by the end of June 2012.

Kensey Nash shares closed at $29.01 with a $251.5 million market capitalization rate for its common stock on Wednesday, and the prior 52-week trading range is $18.17 to $30.50.  This is a company which has been public since the mid-1990s and this offer will constitute an all-time high above the 2008 highest printed price of $38.15.

Kensey Nash shares were already trading at 18-times expected fiscal June-2012 earnings expectations and 2.9-times expected revenues before this premium buyout offer.

Shares are trading up 32% at $38.35 in relatively active trading this morning.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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