Bracco to Acquire E-Z-EM for $241 Million
October 30, 2007 - Bracco Diagnostics, the subsidiary of contrast media developer Bracco Imaging, will acquire E-Z-EM at $21 a share for an estimated total of $241 million.
Independent members of E-Z-EM's board of directors have approved the agreement as well as a group of E-Z-EM stockholders, who represent approximately 34 percent of E-Z-EM’s outstanding shares.
Completion of the transaction remains contingent upon closing conditions, including the approval of a majority of E-Z-EM’s shareholders and regulatory clearance. The companies anticipate completing the acquisition in early 2008.
For more information: www.bracco.com and www.ezem.com