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Integra starts tender offer to acquire Derma Sciences

Integra LifeSciences Holdings Corp. unit Integra Derma Inc. started a cash tender offer to acquire all outstanding common and preferred shares of Derma Sciences Inc.

The company will acquire Derma's securities for $7 per common share, $32 per series A convertible preferred share and $48 per series B convertible preferred share. The tender offer will expire at midnight ET on Feb. 22, unless extended or earlier terminated.

In addition, Integra intends to complete a second-step merger at the same tender offer per-share price for shares not purchased in the tender offer.

D.F. King & Co. Inc. is acting as information agent in the tender offer, with Broadridge Corporate Issuer Solutions Inc. acting as depositary and paying agent.