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TPG’s Immucor buy looks likely to go through after “go-shop” period ends

This article was originally published in Clinica

Executive Summary

Private equity firm TPG Capital is a step closer to bagging blood screening specialist Immucor, after the "go-shop" period, which allows the latter to solicit higher bids, expired uneventfully. TPG agreed to acquire Immucor in July for $27 per share, or $1.97bn in total, but some Immucor shareholders complained that this price was inadequate, leading to speculation that the deal might be scuppered by a rival offer (www.clinica.co.uk, 6 July 2011). However, the "go-shop" period expired on 15 August without any new bids being made, making the deal with TPG more likely to go ahead. Immucor’s board has recommended that its shareholders accept TPG’s tender offer, which is scheduled to expire at 5pm Eastern time tomorrow.

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