Fresenius acquire APP

July 7, 2008

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Fresenius will acquire APP Pharmaceuticals, the US manufacturer of intravenous drugs, for $3.7 billion (£1.9 billion) in a deal that will help the German dialysis specialist break into the American market.

APP, the second-largest maker of intravenous generic drugs in the United States, will complement Fresenius’ Kabi unit, a global supplier of infusions and gastric tube feeding equipment, which so far has lacked a U.S. presence.

APP shareholders will receive $23 a share in cash, a 29 per cent premium to the last closing share price.

Follow the link for the full story in the Times or here for Forbes.