SeraCare shareholders approve proposed acquisition
Linden Capital Partners will buy SeraCare.
Shareholders at SeraCare have approved the proposed acquisition of the firm by Linden Capital Partners.
During business negotiations, they voted to adopt the planned merger agreement with Project Plasma Merger Corp and Project Plasma Holdings Corporation, which are both affiliates of Linden.
Under the terms of the transaction, which is expected to close on April 20th, all holders of SeraCare's outstanding common stock will receive $4 (£2.49) per share.
Furthermore, shareholders approved a number of compensation arrangements for the executive officers of SeraCare as part of the merger.
The conclusion of the deal will be subject to the satisfactory completion of certain closing conditions.
Linden currently manages capital worth $575 million and is exclusively focused on leveraged buyouts within life sciences and healthcare.
SeraCare's chief executive officer, chief financial officer and interim president Greg Gould said: "Linden's acquisition of SeraCare recognises our accomplishments and translates them into significant value for our shareholders."
Posted by David Gleck
Source: SeraCare press release, April 18th