Spain’s Grifols to Acquire Talecris (TLCR) for $3.4B

Shares of Talecris Biotherapeutics Holdings Corp. (TLCR) spiked 51 percent to $24.41 in premarket trading, after the U.S. – based co. agreed to be acquired for $3.4 billion by Spain’s Grifols SA, Europe’s largest maker of blood-plasma treatments.

Under the terms of the deal, Grifols agreed to pay $19 cash and 0.641 nonvoting share for each share of the Research Triangle Park, N.C. – based biotechnology firm. The deal values Talecris, which went public in October at $19 a share, at $26.16, a 53% premium over the average price of the stock over the last 30 days. Talecris shares closed Friday at $16.47.

The combined company will generate about $2.8 billion in revenues per year, with 58% of that coming from North America, 28% from Europe and 14% from the rest of the world.

The boards of both companies have approved the terms.

The deal is subject to conditions including antitrust and regulatory reviews.

TLCR is up $5.39, or 33.84%, to $21.30 at 9:40AM EDT in Nasdaq trading.

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