Royal DSM to Pay $360 Million for Kensey Nash Corporation (KNSY) to Bolster Biomaterials Business
5/3/2012 8:25:12 AM
Kensey Nash Corp., a medical device maker, said Thursday it will be acquired for about $360 million by Royal DSM, a Dutch manufacturer with operations in the pharmaceutical, food and automotive sectors. Separately, the Exton, Pa-based company reported it swung to a profit in the first three months of the year, on double-digit revenue growth and the absence of hefty charges. Royal DSM will start a tender offer for Kensey Nash of $38.50 per share in cash, a 33 percent premium above the stock's closing price Wednesday.