Immucor Up On TPG Bid

Immucor, Inc. BLUD shares are soaring this morning, gaining 30% in pre-market trading as the company received a buyout bid from TPG this morning. Immucor Inc. announced this morning that it had agreed to be acquired by TPG Capital for $27 per share in cash, or $1.97 billion. Immucor said its board unanimously approved the deal. Immucor is also allowed to seek other offers until August 15. "This transaction enables our shareholders to realize significant, immediate value while at the same time allowing Immucor to remain well-positioned to continue pursuing growth opportunities," said Joseph Rosen, Chairman of the Board of Directors of Immucor. "Our Board is pleased with the outcome of the process we followed leading to this transaction, and believes that this transaction is in the best interests of our shareholders." "Immucor has been at the forefront of improving transfusion medicine for nearly 30 years and has a proven track record of creating value," said Joshua H. Levine, President and Chief Executive Officer of Immucor. "Partnering with TPG will allow us to continue with our commitment to deliver innovative technologies that meet our customers' needs and improve patient safety." Goldman Sachs advised Immucor, and Citi and J.P. Morgan Securities advised TPG. At last check, shares of Immucor were slightly above the offer, trading at $27.20‎ in pre-market.