SonoSite, Some Rumored Mergers Come True (SONO)

Some rumors surrounding the world of mergers and acquisitions actually do manage to come true.  The newest deal to hit the tape is an acquisition by FUJIFILM Holdings Corporation of SonoSite, Inc. (NASDAQ: SONO).  The healthcare and materials company is acquiring the outfit for its bedside and point-of-care ultrasound technology.

The deal comes to approximately $995 million if you include the amounts payable in connection with its convertible debt.  It has also been approved by the boards of directors of each party.

The tender will come to $54.00 per share in an all-cash offer, and this represents a premium of 50% over SonoSite’s average closing stock price over the three months.  It is also a 75% premium over the closing price on November 2, 2011, which was the last day before news broke of a possible transaction.

What is more important than the trailing gains is that this is still about a 27% premium to yesterday’s close of $42.44 and is a full $10.00 per share higher than the 52-week high of $44.00.  Ultimately, this transaction also represents an all-time high price for investors.  Anyone who bought SonoSite shares at any point in time and who has held on makes a minimum of $10.00 per share in this buyout.

JON C. OGG