New Britain, CT-based medical and surgical supplies marketer Moore Medical Corp. is once again the belle of the M&A ball. On Feb. 24, the business-to-business mailer confirmed that Newton, MA-based Clinical Data offered to acquire Moore Medical for $15.84 per share, or about $50.5 million.
According to a statement from Moore Medical, the offer consists of 0.698 shares of its common stock for each outstanding share of Moore Medical stock. Clinical Data provides products and consulting services to the physician office laboratory market and offers blood chemistry instrumentation and diagnostic products to clinics and hospitals.
Previously, on Jan. 19, Moore signed an agreement and plan of merger with McKesson Corp. Under the terms of that deal, McKesson made a cash offer of $12 per share. Another contender, Bristol, TN-based SJ Strategic Investments LLC, had offered to buy the company for $15 per share in cash but decided to withdraw its offer on Feb. 13. Moore’s board of directors is evaluating the McKesson and Clinical Data proposals.