RTTNews | Apr 12, 2021 10:15AM EDT

10:14 Monday, April 12, 2021 (RTTNews.com) - Shares of Avantor Inc. (AVTR) touched a new 52-week high of $33.18 Monday morning, after the company announced that it has agreed to acquire Ritter GmbH and its affiliates in an all-cash deal with an upfront equity purchase price of about 890 million euros.

Avantor expects the acquisition to be immediately accretive to adjusted earnings per share upon closure and is anticipated to enhance the company's revenue growth and margin profile.

Michael Stubblefield, CEO of Avantor, said: "The combination will significantly expand our proprietary offering to the biopharma and healthcare end markets and significantly enhance Avantor's offerings for critical lab automation workflows."

AVTR is currently trading at $32.93, up $1.20 or 3.78% with trading volume of over 1.69 million versus an average volume of 4.36 million shares.

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