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July 7, 2022, 7:33 a.m. EDT

Meridian Bioscience agrees to $1.5 billion buyout by SD Biosensor, SJL Partners

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By Tomi Kilgore

Meridian Bioscience Inc. /zigman2/quotes/202928219/composite VIVO -0.34% announced an agreement Thursday to be acquired by a consortium of South Korea-based SD Biosensor Inc. /zigman2/quotes/228095594/delayed KR:137310 -1.15% and private equity firm SJL Partners LLC in a cash deal valued at $1.53 billion. Under terms of the deal, Meridian shareholders will receive $34.00 in cash for each Meridian share they own, representing a 1.3% premium to Wednesday's closing price of $33.55. The company said the per-share bid represented a 32% premium over its stock price ($25.67) before the consortium's first bid before the market opened on March 18. The life science company's stock was halted for news until 7:45 a.m. Eastern. The deal is expected to close in the fourth quarter of 2022. Separately, Meridian said it expects fiscal third-quarter revenue to be between $66 million and $69 million, compared with the FactSet consensus of $69.6 million. The stock has soared 20.4% over the pat three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.23% has lost 14.6%.

/zigman2/quotes/202928219/composite
US : U.S.: Nasdaq
$ 32.64
-0.11 -0.34%
Volume: 146,914
Aug. 11, 2022 2:17p
P/E Ratio
33.28
Dividend Yield
0.00%
Market Cap
$1.43 billion
Rev. per Employee
$452,036
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/zigman2/quotes/228095594/delayed
KR : S. Korea: KRX
38,600.00
-450.00 -1.15%
Volume: 464,876
Aug. 11, 2022 3:30p
P/E Ratio
3.57
Dividend Yield
3.28%
Market Cap
₩4012.84 billion
Rev. per Employee
₩7.47B
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/zigman2/quotes/210599714/realtime
US : S&P US
4,219.91
+9.67 +0.23%
Volume: 2.22B
Aug. 11, 2022 2:17p
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