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Cleary Gottlieb Leads DSM In $360M Medical Device Co. Buy

Law360, New York (May 3, 2012, 2:55 PM EDT) -- Dutch food and chemicals maker DSM NV will buy U.S. medical device company Kensey Nash Corp. for $360 million to build out its biomedical materials business, the companies said Thursday.

The $38.50 per-share offer, endorsed by Kensey Nash's board, is a 33 percent premium over the company's closing share price Wednesday and 10 times its expected earnings before interest, taxes, amortization and depreciation for its fiscal year ending June 2013, they said.

Kensey Nash makes medical device components for regenerative medicine — devices that help the...
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