Inverness Medical Innovations to purchase Matria Healthcare

Inverness Medical Innovations to purchase Matria Healthcare

Inverness Medical Innovations said that it would acquire Matria Healthcare for $39.00 per share.

The company will spend approximately $1.18 billion – with $900 million to acquire the Matria shares of common stock and assumption of approximately $280 million of Matria's indebtedness outstanding.

The merger is conditioned upon approval by Matria's shareholders as well as the satisfaction of regulatory and other customary conditions and is expected to close during the second quarter of 2008.

Sources: agencies.