Published on 23 Mar 2021 on Zacks via Yahoo Finance

Luminex (LMNX) to Get Acquired by DiaSorin for Around $1.8B

Luminex Corporation LMNX is set to be acquired by the Italian diagnostics company DiaSorin S.p.A. for a price of $37 per share or approximately $1.8 billion in an all-cash transaction. Notably, Luminex has emerged as a leader in multiplexing technology — one of the fastest growing markets in the molecular space — with above 900 clients.From DiaSorin’s standpoint, the buyout will expand its foothold in molecular diagnostics space courtesy of Luminex’s molecular diagnostics multiplexing technology and a portfolio that will aid DiaSorin in fortifying its existing offerings while broadening its presence in the United States.

Transaction Details in Brief

Per the deal, Luminex will get merged with DiaSorin’s newly formed U.S. subsidiary, with the former’s shareholders receiving $37 in cash for each of their shares. It is worth mentioning that the transaction will be funded through a mix of cash and external financing.