Japan’s Fujifilm agrees to buy Cellular Dynamics for $307 million
admin • March 30, 2015 • 2344
A visitor checks out Fujifilm’s digital cameras at the Camera & Photo Imaging Show 2013 in Yokohama, south of Tokyo January 31, 2013. REUTERS/YUYA SHINO
(Reuters) – Japan’s Fujifilm Holdings Corp said on Monday it has agreed to acquire U.S. biotechnology firm Cellular Dynamics International Inc (CDI) for $307 million (207 million pounds).
Under the deal, which was approved by both companies’ boards, Fujifilm will make a tender offer for all of CDI for $16.5 per share, the Japanese firm said in a statement. The offer represents a premium of 108 percent to CDI’s closing price on the Nasdaq on Friday.
Originally a maker of photo films, Fujifilm has been aggressively expanding its medical equipment and pharmaceuticals businesses recent years.
In 2008, it bought Toyama Chemical Co, whose drug Avigan has been drafted in the global fight against Ebola.
In November, Fujifilm said it planned to spend 400 billion to 500 billion yen (2-3 billion pounds) on M&A deals over the next three years as part of efforts to boost its healthcare operations.
(Reporting by Taiga Uranaka; Editing by Chris Gallagher)
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