Shareholders Approve Fresenius NMC Deal

Shareholders of W R Grace of the USA and Fresenius USA, have approved the combining of the global dialysis business of Fresenius AG of Germany, parent company of Fresenius USA, and National Medical Care, a subsidiary of W R Grace. Fresenius AG shareholders have already approved the deal (Marketletters passim).

The transaction is now anticipated to close on or around September 30. The resulting company will be known as Fresenius Medical Care AG and will be listed both on the New York Stock Exchange and the Frankfurt Stock Exchange.

On completion of the deal, Grace common shareholders will receive 44.8% of the newly-created health care company, as well as 100% of the smaller Grace firm, which will retain its name. It will focus on packaging and specialty chemicals.