Teleflex to Acquire Arrow International for $2 Billion

Teleflex and Arrow International announced a definitive agreement under which Teleflex will acquire Arrow for approximately $2 billion.

The merger agreement, which was approved by both companies’ boards of directors, provides for a cash payment of $45.50 per share for each outstanding share of Arrow stock, representing a premium of 20 percent over Arrow’s closing share price July 20, Arrow said.

“Teleflex is redefining its portfolio and its medical segment by creating a $1.4 billion medical technology business that will be the largest source of the company’s revenues and profitability,” according to Teleflex Chairman and CEO Jeffrey Black. “With the addition of Arrow, we expect that by fiscal 2008 the medical segment should achieve annual revenues of approximately $1.5 billion,” he added.

Arrow International is a provider of catheter-based access and therapeutic products for critical and cardiac care.