Meridian down on $1.53 bln take-private deal

VivoPower

07/07/2022 15:16

** Shares of diagnostic kit maker Meridian Bioscience
 VIVO.O  fall 1.01% to $33.15
    ** Co to be acquired by SD Biosensor Inc  137310.KS  and PE
firm SJL Partners LLC in all-cash $1.53-bln deal  urn:newsml:reuters.com:*:nL4N2YO29N
    ** VIVO shareholders will receive $34/shr, 1.3% premium to
stock's closing price on Wednesday but 32% higher than its
closing price a day before the South Korean firms made their
first offer in March
    ** Upon completion of the take-private transaction, SD
Biosensor will own ~60% of Meridian and SJL the rest
    ** Transaction expected to close in Q4
    ** Stock up ~63% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))