By Anthony O. Goriainoff

ACQUIRER: Kerry Group PLC, an Ireland-based food company.

TARGET: Biosearch S.A., a Granada, Spain-based, biotechnology company, specializing in priobiotics.

PRICE: 126.9 million euros ($153.8 million), or EUR 2.20 a share in cash. This is a 46% premium over the previous closing price of Biosearch's shares.

FINANCING: Kerry said it had sufficient debt and equity commitments to fund the purchase.

STATUS: Transaction is subject to prior approval by the Spanish National Securities Markets Commission and, upon approval, the acceptance of the offer by Biosearch Life's shareholders.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

February 15, 2021 04:21 ET (09:21 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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