SD Biosensor & SJL Partners (collectively, “Consortium”) to acquire 100% of the outstanding shares of Meridian for ~$1.53B. Meridian shareholders will receive $34.00/share in cash representing a premium of ~32% over Meridian’s closing stock price before SD & SJL’s first offer on Mar 2022 & a premium of 16% based on the 1mos. avg. price/share of common stock. The transaction is expected to close in Q4’22
Following the completion of the transaction, SDB will own ~60% & SJL will own the remaining ~40% of Meridian whereas Meridian will no longer be traded or listed on any public securities exchange
Meridian’s executive team & Cincinnati headquarters are expected to remain in place as part of the consortium’s plan to run Meridian as a stand-alone business
Ref: PRNewswire | Image: Meridian Bioscience
