April 5, 2010 / 2:46 PM / in 8 years

UPDATE 1-National Dentex to go private for about $100 mln

* National Dentex shareholders to get $17/shr in cash

* Offer at 70 pct premium to stock’s close on Thursday

* Shares jump 69 percent

April 5 (Reuters) - National Dentex Corp NADX.O, an operator of dental laboratories, said it agreed to be acquired by GDC Holdings Inc, a holding company of dental implant manufacturer GeoDigm Corp, for $17 per share in cash.

The deal is valued at about $100 million based on the 5.9 million shares outstanding at the end of fourth quarter.

The deal represents a premium of about 70 percent to National Dentex’s share price of $10.02 on April 1.

GeoDigm is a portfolio company of private equity firm Welsh, Carson, Anderson & Stowe.

National Dentex said it expects the transaction to close at the end of the quarter ending June 30.

Under terms of deal, the company said it may solicit acquisition proposals from third parties until May 12.

Shares of National Dental were up $6.81 at $16.83 in morning trade Monday. They touched a 52-week high of $16.90 earlier in the session. (Reporting by Shailesh Kuber in Bangalore; Editing by Gopakumar Warrier)

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