Safeguard Scientifics Partner Company Advanced BioHealing to Be Acquired by Shire for $750M

Safeguard Scientifics, Inc. (NYSE: SFE) today announced that life sciences partner company Advanced BioHealing, Inc. has signed a definitive agreement to be acquired by Shire plc (NASDAQ: SHPGY).

Shire has agreed to pay $750 million, in cash, for ABH in a transaction that is expected to close late in the second quarter or early in the third quarter of 2011. It is anticipated that Safeguard will receive aggregate cash proceeds of more than $140 million in connection with the transaction, which represents a more than 13x cash-on-cash return.