The leading international pet food manufacturer Mars Petcare will acquire Heska, a global provider of advanced veterinary diagnostic and speciality products, for 120 dollars per share. The transaction price represents a premium of approximately 38 per cent over Heska’s 60-calendar-day volume-weighted average price and a premium of approximately 23 per cent over Heska’s closing stock price as of 31 March.
The agreement has been unanimously approved by the boards of directors of both companies. This acquisition is to enable the Science & Diagnostics division of Mars Petcare to expand its diagnostic offerings and broadly promote point-of-care veterinary diagnostics to the global pet healthcare community.
The transaction includes customary closing conditions, including Heska shareholders’ and regulatory approvals, and is anticipated to close in the second half of this year.
