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Why Rochester Medical is up 43 Percent Wednesday (ROCM)

Zemanta Related Posts ThumbnailShares of Rochester Medical Corporation (NASDAQ: ROCM) are up more than 43 percent Wednesday morning after announcing that it was being acquired by C.R. Bard (NYSE: BCR) for $262 million or $20 per share. This represents a 37 percent premium over the Rochester’s average closing price during the last 90 days.

“Our agreement with Bard represents an attractive valuation for Rochester Medical shareholders, and as an all cash offer, provides liquidity for shareholders,” said Anthony J. Conway, Rochester Medical Chief Executive Officer and President. “We believe the merger represents a great opportunity for the combined companies to create a broad product portfolio by offering a more comprehensive range of high-quality urological and continence care products to our customers.”

Rochester Medical is a $170 million company that develops, markets, and manufactures disposable medical catheters and devices for urological and continence care applications along with other devices. C.R. Bard designs, manufactures, packages, distributes, and sells medical, surgical, diagnostic, and patient care devices worldwide.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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