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Luther Medical/MedChem

This article was originally published in The Gray Sheet

Executive Summary

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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