Possis is a provider of mechanical thrombectomy devices used to treat narrowed or blocked arteries and veins....puts Bayer in the medical device business....BD
FRANKFURT, March 26 (Reuters) - More than 90 percent of Possis Medical's (POSS.O: Quote, Profile, Research) shareholders have accepted Bayer's (BAYG.DE: Quote, Profile, Research) $361 million cash offer to buy the U.S. company, the German drugs and chemicals group said on Wednesday. The planned acquisition, which Bayer hopes will boost its diagnostic imaging business and which was backed by Possis' management, was announced in February.
Bayer said about 92 percent of Possis' shareholders had tendered their shares as the initial offer period ended Tuesday. The offer is now due to expire on April 1.