Celsis gets 232.5p cash offer

3rd Aug 2009 09:02

Diagnostics group Celsis has agreed to a cash offer worth 232.5p per share or £54.5m in total from private equity group North Atlantic Value.Celsis directors have recommended the offer. 'We see this offer of 232.5p as an excellent opportunity for Celsis Shareholders to realise the value of their Celsis Shares at a premium on top of the recent rise in the share price. In recent years, despite a number of years of solid growth, the company's value has not been fully recognised by the market,' Jack Rowell, non-executive chairman of Celsis said.The price represents a premium of about 40% to the share price before talk of a deal began to circulate.