Natus Medical shares soar toward a 2-year high after deal to be acquired at a 29% premium by ArchiMed

Shares of Natus Medical Inc. shot up 28.1% to pace all premarket gainers Monday, after the medical device company announced an agreement to be acquired in a deal valued at $1.2 billion by an affiliate of investment firm ArchiMed. Under terms of the deal, ArchiMed will pay $33.50 in cash for each Natus Medical share outstanding, representing a 28.6% premium to Thursday’s closing price of $26.05. And the company will have a 30-day go-shop period in which it can solicit proposals from third parties. The deal is expected to close in the third quarter of 2022. Separately, Natus Medical said first-quarter revenue rose 4.3% to $119.8 million, and that it incurred $3.4 million of “extraordinary” supply chain costs associated with buying semiconductors. The stock, which was on track to open at the highest price seen during regular-session hours since February 2020, has rallied 9.8% year to date through Thursday, while the S&P 500 has lost 7.8%.

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