BTG to acquire Biocompatibles

BTG plc (LSE:BGC) will acquire Biocompatibles International plc (LSE:BII) in a stock and cash deal that values Biocompatibles at L177.2 million ($284.5 million). Biocompatibles shareholders will receive 1.7 new BTG shares and 10p in cash for each Biocompatibles share held. The companies said the deal values each Biocompatibles share at 430p, which represents a 28% premium to Biocompatibles' close of 336.5p on Thursday, before the announcement was made, and a 34% premium to Biocompatibles' close of 321.3p on Sept. 20, before the company announced it had received a preliminary approach from an undisclosed company. ...