Bayer to acquire Conceptus, Inc.
Bayer intends to broaden its portfolio in the field of contraception. Thus, Bayer HealthCare LLC has signed a merger agreement with Conceptus, Inc. (CPTS), the California, U.S., based developer of the Essure® procedure, the leading non-surgical permanent birth control method, which is sold in the United States and other countries.
With this acquisition, Bayer will be able to offer a complete range of short-term, long-term and permanent contraceptive choices for women. Within the next ten business days, Bayer will launch a public tender offer to acquire all shares in Conceptus, Inc. The transaction values Conceptus, Inc. at approx. US$1.1 billion (approx. EUR 852 million) representing US$31.00 per share in cash. Closing is subject to customary conditions and is expected by mid-year 2013.
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