Advanced Medical Solutions Gets Takeover Bid from US-based H.B. Fuller
Overview of the Takeover Proposal
Background and Recent Developments
May 21 (Reuters) - British medical supplier Advanced Medical Solutions on Thursday said it had received an unsolicited takeover proposal from U.S.-based adhesives maker H.B. Fuller, days after its last buyout talks with a private equity firm failed.
Market Reaction
Shares of the British company jumped as much as 13.5% to 240 pence after the news.
Details of the Bids
• The approach, which is the second bid in just over a month for the London-listed firm, comes days after private equity firm TA Associates walked away from the deal talks without disclosing a reason or a bid value.
Market Capitalisation Impact
• At its intraday peak, based on the highest share price reached, Advanced Medical Solutions' market capitalisation stood at £528.6 million ($710.02 million).
Response from H.B. Fuller
• H.B. Fuller did not immediately respond to Reuters' request for comment.
Additional Information
($1 = 0.7445 pounds)
(Reporting by Yamini Kalia and Prerna Bedi in Bengaluru; Editing by Shreya Biswas)
