Private investment firm KKR has reached an agreement to acquire medical device outsourcing company Integer Holdings for approximately $4.3 billion in cash. The companies announced on Monday that KKR will purchase Integer for $127 per share.
This price represents a 4.8% premium over the Plano, Texas-based company's closing price of $121.21 last Friday, and is roughly 52% higher than its April 29 closing price of $83.67, before the company indicated it was considering a sale. Integer shares rose 2.6% in pre-market trading to $124.39.
Multiple financial media outlets reported last week that New York-based KKR was close to finalizing a deal to take Integer private. The transaction has an enterprise value of approximately $5.7 billion and is expected to close before the end of this year.