Australia's CSL enters $3.1 billion agreed bid for USA's Telcris Biotherapeutics

In a deal that will bring together two of the leading companies in the field of plasma therapeutics and collection, Australia's CSL has signed a definitive agreement to acquire Research Triangle Park, USA-based Talecris Biotherapeutics, for $3.1 billion in cash. This will be made up of $1.9 billion for shares of the privately-held US firm and assumption of its $1.2 billion debt.

Talecris, with revenues of around $1.2 billion in 2007, employs more than 4,000 people worldwide, was formed in 2005 by affiliates of Cerberus Capital Management and Ampersand Ventures, which acquired the former Bayer Plasma business from Bayer AG of Germany for around $300.0 million. Its leading products are Gamunex (immune globulin) and Prolastin (alpha-1 proteinase inhibitor human). Talecris filed for an Initial Public Offering in 2007 but, given the tight credit market, this has remained unpriced, reports the local newspaper, the Triangle Business Journal.

According to the two merging groups, the combination of Talecris and CSL will result in: