Nordson (NDSN) announced that it has entered into a definitive agreement to acquire Atrion Corporation (ATRI) for $460.00 per share in cash. This reflects a valuation of 15X Atrion’s 2024 full-year estimated EBITDA, inclusive of synergies Nordson expects to generate in the first two years of its ownership. Headquartered in Allen, Texas, Atrion is a manufacturer of proprietary medical products, generating approximately $169 million in annual revenue in 2023. The $460.00 per share in cash price for Atrion represents a total transaction enterprise value of approximately $800M. The transaction is expected to close prior to Nordson’s fiscal year-end 2024, pending applicable regulatory and stockholder approvals and will be funded through a combination of cash on hand and newly issued financial debt.
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Read More on NDSN:
- Nordson price target lowered to $295 from $315 at DA Davidson
- Nordson price target lowered to $272 from $303 at Baird
- Nordson cuts FY24 EPS view to $9.35-$9.75 from $10-$10.50, consensus $10.23
- Nordson sees Q3 adjusted EPS $2.25-$2.40, consensus $2.72
- Nordson reports Q2 adjusted EPS $2.34, consensus $2.31
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