Summary Box: TPG Capital buying Immucor

AP News
Posted: Jul 05, 2011 9:47 AM
Summary Box: TPG Capital buying Immucor

THE DEAL: Immucor Inc., which makes systems that are used to screen donated blood, agreed to sell itself to private investment firm TPG Capital for $1.97 billion, or $27 per share.

WHEN: TPG will start a tender offer for Immucor shares by July 15, and Immucor said it can solicit proposals from other potential buyers through Aug. 15. The companies expect the deal to close during the second half of 2011.

LEADERSHIP: The announcement comes about three weeks after Gioacchino De Chirico stepped down as Immucor's president and CEO. He was replaced by Joshua Levine.