25th Jun 2026 08:57
(Alliance News) - Advanced Medical Solutions Group PLC on Thursday said it has agreed to an all-cash takeover offer from US suitor HB Fuller Co.
The offer of 285 pence per share in cash values the equity of AIM-listed AMS at GBP659 million and gives an enterprise value, including debt, of GBP715 million.
AMS shares were up 16% to 278.61p early Thursday in London following the announcement.
HB Fuller shares closed up 2.3% at USD64.60 in New York on Wednesday. The stock was down 2.9% in pre-market trade on Thursday. HB Fuller has a market capitalisation of USD3.52 billion.
HB Fuller is an adhesives manufacturer based in St Paul, Minnesota. The offer is being made via its wholly owned subsidiary HB Fuller Medical Adhesive Technologies Inc. AMS is a Cheshire, England-based surgical dressings maker.
The US company's approach to AMS at the end of April was first publicly confirmed in May. Last week, AMS agreed to extend the deadline for HB Fuller to make a firm offer to July 2.
Earlier in May, AMS shares had taken a hit after private equity firm TA Associates (UK) LLP said it didn't intend to make a takeover offer of its own, having approached AMS about a possible deal in April.
On Thursday, AMS said all of its directors, representing 0.3% of its shares, recommend acceptance of the HB Fuller offer.
Chair Grahame Cook said the deal "delivers attractive and certain value in cash to AMS shareholders".
For its part, HB Fuller Chief Executive Officer Celeste Mastin said: "This transaction is a rare opportunity to advance the evolution of our portfolio. We have long been clear that medical is a core strategic growth market for HB Fuller given its durable demand trends, high regulatory-based entry barriers and margin profile."
By Tom Waite, Alliance News editor
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