Business

DiaSorin consented to gain Luminex for $1.8B

DiaSorin (OTCPK:DSRLF) consented to purchase Luminex (NASDAQ:LMNX) for $1.8B, or $37/share, in an all-cash transaction.

The deal represents a 23% premium to holders of Luminex dependent on the end cost on Feb. 24, the day preceding reports of a potential deal surfaced. The securing represents a 12% premium to Luminex’s Friday shutting cost.

The procurement of the Covid-19 test kit maker is relied upon to close within Q3 and is dependent upon Luminex holder approval as well as antitrust and CFIUS regulatory prerequisites, as indicated by a statement. The buy is required to be promptly accretive to DiaSorin’s earnings per share post closing.

Morgan Stanley went about as lead financial advisor to DiaSorin and Cravath Swaine & Moore LLP and Pedersoli Studio Legale acted as legal advisors. Perella Weinberg went about as financial advisor to Luminex and DLA Piper went about as legal advisor.

DiaSorin will hold a conference call on Monday to talk about the acquisition.

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