Kimberly-Clark to buy medical device maker I-Flow

AP News
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Posted: Nov 24, 2009 2:55 PM

Boxer Acquisition Inc., a subsidiary of consumer products maker Kimberly-Clark Corp., said it would buy all remaining shares of I-Flow Corp. Tuesday, now that shareholders have tendered _ and Kimberly Clark has bought _ 90.8 percent of I-Flow's common shares.

I-Flow makes drug delivery devices and surgical products like pumps and catheters.

The tender offer deadline was Monday, and Kimberly-Clark has bought all the shares that were tendered. The remaining shares will be worth $12.65 per share in cash without interest and less any withholding taxes, the same amount as the tender offer.

I-Flow will become a part of Kimberly-Clark Health Care and I-Flow shares will no longer trade on the Nasdaq.

Shares of Kimberly-Clark, based in Dallas, fell 15 cents to $65.53 in afternoon trading.