H.B. Fuller offers £715 million for Advanced Medical Solutions

• H.B. Fuller made a recommended cash offer to acquire Advanced Medical Solutions for £715 million.
• The offer gives eligible AMS shareholders £2.85 per share in cash.
• H.B. Fuller said the deal would expand its medical adhesives business and add $300 million in annual revenue.

H.B. Fuller (NYSE:FUL) made a recommended cash offer to acquire Advanced Medical Solutions for £715 million, expanding its medical adhesives portfolio.

The recommended offer turns earlier talks into a firm proposal, after H.B. Fuller said medical is a core strategic growth market.

“This transaction is a rare opportunity to advance the evolution of our portfolio,” said H.B. Fuller President and CEO Celeste Mastin.

H.B. Fuller said it expects about $55 million, or about £41 million, in run-rate revenue and cost synergies by 2031.

Following the announcement, H.B. Fuller's share price was up at $64.60.

H.B. Fuller said AMS would add about $300 million in annual revenue and increase its total addressable market by $15 billion to $95 billion.

H.B. Fuller said the deal would create a new global reporting unit, which would account for about 10% of the combined company’s revenue and EBITDA.