STEWARTVILLE, Minn.—Rochester Medical Corporation announced it has entered into a definitive merger agreement with C. R. Bard, Inc. at a price of $20 per share, or approximately $262 million in the aggregate. Under the terms of the merger agreement, Rochester Medical shareholders will receive $20 in cash for each share that they hold at the closing of the merger, representing a 37 percent premium over the Company's average closing price during the 90 trading days ended September 3, 2013. The acquisition is subject to certain closing conditions specified in the definitive agreement, including regulatory approvals and the approval of Rochester Medical's shareholders. The transaction is expected to close in late 2013.
Rochester Medical Corporation develops, manufactures, and markets disposable medical catheters and devices for urological and continence care applications. The Company also sells certain ostomy and wound and scar care products and other brands of urological products into the European marketplace.
