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DSM, the Dutch plastics giant, is making a $360 million bet that biomaterials and regenerative medicine will play an important role in future medical care. The acquisition continues a trend at DSM away from commodities and toward specialties, particularly in the life sciences.
Kensey Nash Corp. (Exton, PA) announced today that it has entered into a definitive agreement in which DSM will acquire all of its stock for $38.50 per share in cash.
"We are very pleased to have entered into the merger agreement with DSM, as the transaction will deliver significant value to our stockholders. The price to be paid to our stockholders represents a premium of 33% over our closing price on May 2, 2012," said Joe Kaufmann, president and CEO of Kensey Nash, which develops devices based on resorbable materials such as collagen, synthetic polymers, and extracellular matrices.
( Source: Plastics Today )