DALLAS, Nov. 5 /PRNewswire-FirstCall/ -- Kimberly-Clark Corporation (NYSE: KMB) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to its previously announced planned acquisition of I-Flow Corporation (Nasdaq: IFLO).
Kimberly-Clark initiated a cash tender offer on October 20, 2009 to purchase all outstanding shares of I-Flow common stock. The tender offer will expire at midnight on November 17, 2009, unless extended in accordance with the terms of the merger agreement with I-Flow and the applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC). Termination of the waiting period satisfies one of the conditions to the closing of the tender offer. The closing of the tender offer also is conditioned on the tender of a majority of the outstanding shares of I-Flow Corporation's common stock on a fully diluted basis and the satisfaction of other customary closing conditions.
Upon the successful closing of the tender offer, stockholders of I-Flow will receive $12.65 in cash for each share of I-Flow common stock tendered in the offer, without interest and less any required withholding taxes. Following the purchase of shares in the tender offer, I-Flow will operate as part of Kimberly-Clark Health Care, a global business segment of Kimberly-Clark Corporation, with net sales of more than $1 billion.
About Kimberly-Clark and Kimberly-Clark Health Care
Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 150 countries. To learn more about Kimberly-Clark and its 137-year history of innovation, visit www.kimberly-clark.com.
Around the world, medical professionals turn to Kimberly-Clark for a wide portfolio of solutions that improve the health, hygiene and
|SOURCE Kimberly-Clark Corporation|
Copyright©2009 PR Newswire.
All rights reserved