RTTNews | Dec 23, 2021 07:23AM EST

07:22 Thursday, December 23, 2021 (RTTNews.com) - Quidel Corporation (QDEL) and Ortho Clinical Diagnostics Holdings plc (OCDX) have entered an agreement, under which Quidel will acquire Ortho for $24.68 per share of common stock using a combination of cash and newly issued shares in the combined company, representing an equity value of approximately $6.0 billion. The total consideration includes $1.75 billion of cash. The combined company will acquire Ortho's net debt of $2.0 billion.

Ortho shareholders will receive $7.14 in cash per share and 0.1055 shares of stock in the combined company for each Ortho common share, with Ortho shareholders expected to own approximately 38% of the combined company.

Quidel's President and CEO, Douglas Bryant, will serve as Chairman and CEO of the combined company. Joseph Busky will be CFO, and Robert Bujarski will be President and Chief Operating Officer.

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