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Dec. 21, 2010, 1:38 a.m. EST

Martek agrees to $31.50-share bid from Royal DSM

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By Robert Daniel

TEL AVIV (MarketWatch) -- Martek Biosciences Corp. , the Columbia, Md., provider of microbe-sourced nutritional products, definitively agreed to be acquired by Royal DSM NV for $31.50 a share cash, or $1.09 billion. Royal DSM is the Heerlen, Netherlands, life-sciences and materials-science company. In a Tuesday statement, Martek and Royal DSM said the directors of both companies had approved the terms. The deal price is 35% above Martek's closing price of $23.36 on Monday. Financing for the deal is in place, the companies said. For Royal DSM, Martek strengthens its nutrition division, adding a growth platform for natural-food ingredients for infant-food and beverage and other applications, the companies said. The deal is subject to conditions, including antitrust review.

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