Orlando, FL 12/15/11 (StreetBeat) -- SonoSite (Nasdaq: SONO) shares are surging today following Fujufilm Holdings Corporation’s announcement that it has agreed to acquire the ultrasound technology company for $995 million, including amounts payable in connection with its convertible debt.Fujifilm’s U.S. subsidiary will make an all-cash tender offer for all outstanding SonoSite shares, for $54 per share in cash, a 50% premium over SonoSite’s three-month average closing price as of yesterday.
The boards of both companies have approved the transaction.
SonoSite’s ultrasound products are made for a wide range of medical applications. It competes with the healthcare divisions of major companies like General Electric (GE) and Siemens (SI).
SonoSite shares are jumping 26%, or $11.30, to $53.54 on the news Thrusday.
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