Credit Suisse Provides Financing for Juniper Acquisition
Theragenics, a medical device company serving the surgical products and prostate cancer treatment markets, said it has signed a definitive merger agreement pursuant to which a newly formed affiliate of Juniper Investment Company will acquire all of the outstanding common stock of the company for $2.20 per share in cash.
The financing for the transaction is fully committed, and will consist of a combination of equity contributed by affiliates of Juniper and other investors, including affiliates of Garrison Investment Group, and debt financing provided by Credit Suisse and affiliates of Garrison Investment Group. Juniper currently owns approximately 7% of the company’s outstanding common stock and will reinvest that equity into the acquiring entity or an affiliate thereof.
VRA Partners is acting as the company’s financial advisor, and Brown Gibbons Lang is acting as the board’s independent financial advisor. Bryan Cave LLP is acting as the company’s legal advisor. Juniper is acting as its own financial advisor, and Shearman & Sterling is acting as its legal advisor.
The board of directors of the company unanimously approved the merger agreement and the transactions contemplated thereby. The merger agreement permits the Company to solicit competing offers from credible and bona fide third parties through September 6, 2013.
The transaction is expected to close in the fourth quarter of 2013, subject to stockholder approval and customary closing conditions as set forth in the merger agreement.