Nordson to acquire Atrion for $460 per share in cash

Atrion Corporation (ATRI) announced that it has entered into an agreement and plan of merger with Nordson Corporation pursuant to which Nordson (NDSN) will acquire Atrion for $460 per share in cash, representing a total equity value of approximately $815 million. The transaction enterprise value reflects a multiple of 20.2 times Atrion’s 2023 EBITDA, and the $460 per share price represents a 15% premium to Atrion’s 90-day average daily volume-weighted average stock price. Completion of the proposed transaction is expected in the third quarter of 2024, subject to the satisfaction of customary closing conditions, including the receipt of customary regulatory clearances and approvals. Three of Atrion’s largest stockholders, holding approximately 22% of Atrion’s outstanding shares, have entered into voting and support agreements with Nordson under which they have agreed, on customary terms and conditions, to vote all their Atrion shares in favor of the proposed transaction.