Meridian Bioscience Agrees To Be Taken Private By SD Biosensor And SJL Partners In $1.53 Bln Deal

(RTTNews) - Meridian Bioscience Inc. (VIVO) said that it agreed to be acquired by SD Biosensor and SJL Partners in $1.53 billion all-cash transaction.

As per the terms of the deal, Meridian shareholders will receive $34.00 per share in cash, which represents a premium of approximately 32% over Meridian's closing stock price on the day before the consortium's first offer before the market open on March 18, 2022.

The transaction is expected to close in the fourth calendar quarter of 2022. Upon completion of the transaction, it is expected that SDB will own approximately 60% and SJL will own approximately 40% of Meridian. Meridian will no longer be traded or listed on any public securities exchange.

The consortium intends to operate Meridian as an independent entity following the completion of the transaction and the company's leadership team and headquarters are expected to remain in place.

In a separate press release, Meridian Bioscience said it expects net revenues for the third quarter of fiscal 2022 to be between $66 million and $69 million.