DiaSorin To Buy Luminex For $1.8 Bln

(RTTNews) - DiaSorin S.p.A. Monday announced that it has agreed to acquire Luminex Corp. (LMNX) for $1.8 billion, through which it will improve its presence in the U.S.

DiaSorin will pay Luminex shareholders a price of $37.00 per share in an all-cash transaction, which corresponds to a total equity value of aroud $1.8 billion. This represents a 23.1% premium to Luminex shareholders based on the unaffected closing stock price on February 24, the date prior to press rumors regarding a potential sale of the company.

Luminex develops, manufactures and sells proprietary biological testing technologies and products throughout the Diagnostics and Life Science industries.

Carlo Rosa, CEO of DiaSorin Group, says, "Luminex perfectly fits with our strategy to grow our positioning in the molecular diagnostics space, to broaden our presence in the U.S., and to create additional value through Life Science offerings."

Following the acquisition, the combined entity will have combined 2020 revenues of about €1.25 billion, adjusted EBITDA of approximately €472 million, and positive Net Financial Position of approximately €335 million.