From Earlier: Kensey Nash Agrees to Be Acquired by DSM for $38.50 per Share in Cash

Kensey Nash Corporation KNSY, today announced that it has entered into a definitive agreement with Royal DSM, under which DSM has agreed to acquire all of the common stock of Kensey Nash through a cash tender offer, followed by a merger with a subsidiary of DSM, for $38.50 per share in cash. Under the terms of the merger agreement, DSM will in May commence an all-cash tender offer to acquire all of the outstanding shares of common stock of Kensey Nash for $38.50 per share. The tender offer is currently expected to be completed by the end of June 2012. The tender offer is subject to customary conditions, including the tender of a majority of the outstanding shares of Kensey Nash common stock on a fully diluted basis, and the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period. Following the completion of the tender offer, DSM will acquire the remaining outstanding shares of Kensey Nash common stock through a second step merger, subject to customary conditions.