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CORRECTED-Bayer plans to buy Conceptus for $1.1 bln
April 29, 2013 / 6:55 AM / 4 years ago

CORRECTED-Bayer plans to buy Conceptus for $1.1 bln

(Corrects headline to Bayer, not BASF)

FRANKFURT, April 29 (Reuters) - Germany’s Bayer agreed to acquire U.S. birth-control devices company Conceptus for $1.1 billion in cash, to cement its position as the world’s largest women’s healthcare provider.

Within the next ten business days, Bayer will launch a public tender offer to acquire all shares in Conceptus for $31.00 apiece, with closing of the deal expected by mid-year 2013, Bayer said on Monday.

Conceptus had $28.2 million in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) last year, on sales of $141 million.

Reporting by Ludwig Burger

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