Cooper Cos. Inc. has received approval of its offer to buy Origio A/S from shareholders controlling 90.4 percent of the Danish firm’s stock, Cooper Cos. officials said Monday.
Cooper Cos. offered June 4 to acquire all of Origio’s outstanding shares and warrants. The tender offer had a June 22 expiration date. Origio, which manufactures and distributes in vitro fertilization devices, employs 320 and had sales of $61.8 million in 2011.
Based in Pleasanton, Calif., Cooper Cos.’ CooperVision Inc. contact lens division employs 1,184 at manufacturing and warehouse facilities in Henrietta.
In June, Cooper Cos. valued the Origio deal at $189 million and described plans to finance the transaction with $151 million in equity and approximately $38 million of net debt. With most of Origio shareholder’s agreeing to the offer, Cooper Cos. plans to force a sale of the remaining 9.6 percent and complete the deal by the end of July.
The acquisition significantly would strengthen Cooper Cos. existing in vitro fertilization business and continue a program of adding to Cooper Surgical’s women’s health care product line, Cooper Cos. chairman and CEO Robert Weiss said in a June statement.
Origio shares on Monday were trading on the Oslo Stock Exchange at $4.67, up 15 cents.
Cooper Cos. shares (NYSE: COO) on Monday were trading midday at $79.74, down 86 cents.
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