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Bayer commences cash tender offer for birth-control company Conceptus
11:30 PM MDT | May 7, 2013 | Natasha Alperowicz
Evelyn Acquisition Co., a subsidiary established by Bayer HealthCare (Tarrytown, NY), for the purpose of acquiring contraceptive device maker Conceptus (Mountain View, CA) on Tuesday began a cash tender offer for all the shares in Conceptus at a price of $31/share, valuing the transaction at $1.1 billion. The board of directors of Conceptus has unanimously recommended that its stockholders accept the offer, which expires at 12:00 midnight, New York City time on 5 June 2013, unless the tender offer is extended or earlier terminated by Bayer in accordance...
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