This article was originally published in The Gray Sheet
Catheter systems manufacturer Luther Medical receives acquisition offer from MedChem Products. According to Luther, MedChem is opening negotiations "with a valuation range of $3.50- 4 per share, payable in cash and/or MedChem common stock," making the deal worth $10-11.5 mil. On Sept. 15, the day of the MedChem offer, Luther stock closed at $2.875 per share. Commenting on the offer, Luther President and CEO David Rollo says that the company's board "will meet soon to consider the MedChem proposal seriously"
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