Deals deals and more …ZimVie (ZIMV ) has $19cash bid from PE firm ARCHIMED.
ZimVie Announces Definitive Agreement to be Acquired by ARCHIMED for $19.00 Per Share in Cash $ZIMV https://t.co/neB5JDC7Jm
$ZIMV (halted pre) ARCHIMED to acquire ZimVie for $19 per share in $730 million deal - SI https://t.co/PjOlHOICTj
Healthcare-focused private-equity firm ARCHIMED has agreed to acquire U.S. dental-implant maker ZimVie Inc. for $19 a share in cash, valuing the company at about $730 million. The price represents a 99% premium to ZimVie’s 90-day volume-weighted average, and the board of the Palm Beach Gardens, Florida-based company has unanimously approved the deal. The agreement includes a 40-day go-shop period that allows ZimVie to solicit superior offers until 29 Aug. 2025. Closing is targeted for year-end, subject to shareholder and regulatory approvals. Upon completion, ZimVie will be taken private and its shares will be delisted from Nasdaq. Centerview Partners is advising ZimVie, with Cravath, Swaine & Moore as legal counsel. ARCHIMED is working with UBS Investment Bank and Latham & Watkins. ARCHIMED, which manages about €8 billion in healthcare assets, said the takeover will provide capital to expand ZimVie’s dental technology portfolio.
