Boston, MA 05/07/2014 (wallstreetpr) – Nordon Inc (USA) (NYSE:NDZ) signs an permanent agreement of acquisition by Sterigenics, a GTCR LLC’s portfolio company, which provides sterilization services. According to the agreement, shareholders will get a total cash consideration of US$11.75 per share which was later amended to US$12.25 by the company. At the end of the transaction, Nordion will be operating as a standalone company under Sterigenics and will keep on with its operations under the same name.
Nordion changed the consideration to be received by shareholders to US$12.25
Later, Nordon Inc (USA) (NYSE:NDZ) entered into an amendment to the earlier announced agreement with Sterigenics, resolving the terms and conditions of the much talked about acquisition. According to the amended agreement, Nordion shareholders will now receive cash consideration of US$12.25 per share. All the other terms of the agreement will remain same. The value of the total transaction now is approximately US$758 million which will be funded using both debt and equity financing. Sterigenics has submitted amended debt and equity commitment letters showcasing the new consideration. The increased consideration showcases a premium of nearly 29% over US$9.47 per common share, weighted average price for 90-day volume as on March 27, 2014.
Nordion receives interim order and updates financial outlook for FY2014
Nordon Inc (USA) (NYSE:NDZ) received an interim order from Ontario Supreme Court of Justice to hold an annual and special meeting of shareholders of the company to approve matters of annual general meeting and proposed acquisition by Sterigenics.
Nordion currently is expecting revenues of Sterilization technologies segment to increase by 35% to 40% in fiscal 2014 from fiscal 2013, up by 10% to 15% from companies’ previous outlook.
Nordon Inc (USA) (NYSE:NDZ) expects revenues of Medical Isotopes segment to be approximately 45% higher in fiscal 2014 than fiscal 2013, which is higher than the company’s earlier outlook of an annual increase of nearly 40%.
